Fonar Corporation (NASDAQ:FONR - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.34 and traded as high as $15.51. Fonar shares last traded at $15.51, with a volume of 11,477 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut shares of Fonar from a "strong-buy" rating to a "buy" rating in a research report on Saturday.
Read Our Latest Stock Report on FONR
Fonar Price Performance
The stock has a 50 day moving average price of $15.60 and a 200-day moving average price of $14.35. The stock has a market capitalization of $94.24 million, a price-to-earnings ratio of 12.16 and a beta of 0.97.
Fonar (NASDAQ:FONR - Get Free Report) last announced its quarterly earnings data on Monday, September 22nd. The medical equipment provider reported $0.11 earnings per share for the quarter. Fonar had a return on equity of 5.31% and a net margin of 8.19%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of FONR. Money Concepts Capital Corp grew its position in shares of Fonar by 1.2% in the first quarter. Money Concepts Capital Corp now owns 406,296 shares of the medical equipment provider's stock valued at $5,692,000 after purchasing an additional 4,719 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Fonar by 16.5% during the first quarter. Linden Thomas Advisory Services LLC now owns 34,054 shares of the medical equipment provider's stock worth $477,000 after buying an additional 4,818 shares during the last quarter. Empowered Funds LLC grew its holdings in 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 buying an additional 1,504 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Fonar in the 2nd quarter worth $157,000. Finally, Bridgeway Capital Management LLC increased its stake in shares of Fonar by 2.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider's stock worth $1,247,000 after acquiring an additional 1,843 shares during the last quarter. 50.64% of the stock is owned by hedge funds and other institutional investors.
Fonar Company Profile
(
Get Free Report)
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.
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