Fonar Corporation (NASDAQ:FONR - Get Free Report) shares 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 traded.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut Fonar from a "strong-buy" rating to a "buy" rating in a report on Saturday.
Get Our Latest Stock Analysis on Fonar
Fonar Price Performance
The company has a market capitalization of $93.91 million, a PE ratio of 12.11 and a beta of 0.97. The firm has a 50-day simple moving average of $15.63 and a 200 day simple moving average of $14.34.
Hedge Funds Weigh In On Fonar
A number of hedge funds have recently bought and sold shares of the company. Money Concepts Capital Corp grew its stake in Fonar by 1.2% in the first quarter. Money Concepts Capital Corp now owns 406,296 shares of the medical equipment provider's stock worth $5,692,000 after purchasing an additional 4,719 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Fonar by 2.3% in the second quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider's stock worth $1,247,000 after purchasing an additional 1,843 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in Fonar by 16.5% in the first quarter. Linden Thomas Advisory Services LLC now owns 34,054 shares of the medical equipment provider's stock worth $477,000 after purchasing an additional 4,818 shares in the last quarter. Empowered Funds LLC grew its stake in Fonar by 7.7% in the first quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider's stock worth $296,000 after purchasing an additional 1,504 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Fonar in the second quarter worth about $157,000. 50.64% of the stock is currently owned by institutional investors and hedge funds.
About Fonar
(
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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