FONAR Co. (NASDAQ:FONR) Short Interest Up 19.5% in March

FONAR Co. (NASDAQ:FONR - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 22,700 shares, a growth of 19.5% from the March 15th total of 19,000 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 13,200 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Investors Weigh In On FONAR

Several large investors have recently modified their holdings of FONR. Peapod Lane Capital LLC purchased a new position in FONAR in the fourth quarter valued at approximately $2,159,000. Truffle Hound Capital LLC purchased a new position in shares of FONAR during the 4th quarter valued at $1,363,000. Money Concepts Capital Corp lifted its position in shares of FONAR by 5.9% during the 4th quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider's stock valued at $6,080,000 after buying an additional 22,245 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in FONAR by 15.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider's stock worth $443,000 after acquiring an additional 3,837 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in FONAR by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider's stock valued at $5,703,000 after acquiring an additional 2,149 shares during the period. Hedge funds and other institutional investors own 50.64% of the company's stock.

FONAR Stock Down 1.5 %

FONR stock traded down $0.18 during midday trading on Friday, hitting $12.02. The company's stock had a trading volume of 9,469 shares, compared to its average volume of 16,330. FONAR has a 1 year low of $12.02 and a 1 year high of $18.68. The stock has a market cap of $74.66 million, a price-to-earnings ratio of 10.45 and a beta of 1.17. The stock's 50-day moving average price is $13.50 and its 200 day moving average price is $14.82.

FONAR (NASDAQ:FONR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The medical equipment provider reported $0.29 earnings per share for the quarter. The company had revenue of $24.95 million during the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%.

About FONAR

FONAR Corporation, together with its subsidiaries, engages in the research, development, production, and marketing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases in the United States. The company operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services.