Fonar (NASDAQ:FONR) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• Fonar shares crossed above their 200-day moving average, trading as high as $18.59 versus a 200‑day MA of $16.56 and a 50‑day MA of $18.55.
• Analyst sentiment is muted: Wall Street Zen upgraded the stock to a Hold, and MarketBeat's average rating for FONR is currently "Hold."
• Fundamentals: market cap about $114.8M with a P/E of 16.45; latest quarter showed $0.31 EPS on $18.25M revenue, and institutional investors own roughly 50.6% of shares.

Fonar Corporation (NASDAQ:FONR - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.56 and traded as high as $18.59. Fonar shares last traded at $18.59, with a volume of 81,585 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Fonar to a "hold" rating in a research report on Friday, November 28th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Fonar currently has an average rating of "Hold".

Fonar Stock Performance

The company has a 50-day moving average of $18.55 and a 200-day moving average of $16.56. The stock has a market capitalization of $114.76 million, a price-to-earnings ratio of 16.45 and a beta of 0.99.

Fonar (NASDAQ:FONR - Get Free Report) last announced its earnings results on Friday, February 13th. The medical equipment provider reported $0.31 EPS for the quarter. The firm had revenue of $18.25 million for the quarter. Fonar had a return on equity of 4.69% and a net margin of 7.13%.

Institutional Trading of Fonar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FONR. Geode Capital Management LLC raised its stake in Fonar by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 69,612 shares of the medical equipment provider's stock valued at $1,292,000 after purchasing an additional 1,336 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Fonar by 7.7% during the 1st 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 during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Fonar by 2.3% during the second quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider's stock worth $1,247,000 after buying an additional 1,843 shares in the last quarter. RBF Capital LLC raised its position in shares of Fonar by 3.3% in the fourth quarter. RBF Capital LLC now owns 75,447 shares of the medical equipment provider's stock valued at $1,400,000 after buying an additional 2,389 shares during the last quarter. Finally, Lakewood Asset Management LLC lifted its stake in shares of Fonar by 15.1% during the fourth quarter. Lakewood Asset Management LLC now owns 19,057 shares of the medical equipment provider's stock valued at $354,000 after buying an additional 2,493 shares during the period. Hedge funds and other institutional investors own 50.64% of the company's stock.

Fonar Company Profile

Fonar Corporation is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company's flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.

Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel.

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