Fonar (NASDAQ:FONR) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Fonar Corporation (NASDAQ:FONR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.24 and traded as high as $15.85. Fonar shares last traded at $15.80, with a volume of 14,447 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Fonar from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 19th.

Fonar Stock Up 0.8%

The company has a market cap of $96.66 million, a P/E ratio of 12.47 and a beta of 1.00. The business's 50 day moving average is $13.98 and its 200 day moving average is $14.24.

Fonar (NASDAQ:FONR - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The medical equipment provider reported $0.37 earnings per share (EPS) for the quarter. Fonar had a return on equity of 5.31% and a net margin of 8.19%.

Hedge Funds Weigh In On Fonar

Large investors have recently made changes to their positions in the business. Bridgeway Capital Management LLC increased its position in shares of Fonar by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider's stock worth $1,212,000 after purchasing an additional 945 shares in the last quarter. Truffle Hound Capital LLC acquired a new position in shares of Fonar in the 4th quarter valued at $1,363,000. Money Concepts Capital Corp increased its position 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 during the period. Dimensional Fund Advisors LP increased its position 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 during the period. Finally, Empowered Funds LLC increased its position in shares of Fonar by 7.7% in the 1st quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider's stock valued at $296,000 after acquiring an additional 1,504 shares during the period. 50.64% of the stock is owned by institutional investors and hedge funds.

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.