FONAR (NASDAQ:FONR) Shares Cross Above 200 Day Moving Average - Time to Sell?

FONAR Co. (NASDAQ:FONR - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $14.42 and traded as high as $14.64. FONAR shares last traded at $14.52, with a volume of 17,307 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of FONAR from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 19th.

FONAR Trading Down 0.1%

The firm's 50-day moving average is $13.00 and its 200 day moving average is $14.42. The firm has a market capitalization of $89.82 million, a price-to-earnings ratio of 12.59 and a beta of 0.99.

FONAR (NASDAQ:FONR - Get Free Report) last posted its earnings results on Thursday, May 15th. The medical equipment provider reported $0.37 EPS for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FONR. Peapod Lane Capital LLC acquired a new position in shares of FONAR in the 4th quarter worth approximately $2,159,000. Truffle Hound Capital LLC bought a new stake in shares of FONAR in the 4th quarter valued at $1,363,000. Linden Thomas Advisory Services LLC increased its stake in shares of FONAR by 16.5% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 34,054 shares of the medical equipment provider's stock valued at $477,000 after acquiring an additional 4,818 shares in the last quarter. Money Concepts Capital Corp increased its stake in shares of FONAR by 1.2% in the 1st quarter. Money Concepts Capital Corp now owns 406,296 shares of the medical equipment provider's stock valued at $5,692,000 after acquiring an additional 4,719 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 50.64% of the company's stock.

FONAR Company Profile

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.