FONAR (NASDAQ:FONR) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

FONAR Co. (NASDAQ:FONR - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.61 and traded as low as $12.39. FONAR shares last traded at $12.39, with a volume of 8,581 shares.

FONAR Trading Down 0.4%

The stock's 50 day moving average price is $12.97 and its 200 day moving average price is $14.58. The firm has a market cap of $76.52 million, a PE ratio of 10.71 and a beta of 1.00.

FONAR (NASDAQ:FONR - Get Free Report) last announced its earnings results on Wednesday, February 19th. The medical equipment provider reported $0.29 earnings per share for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%. The business had revenue of $24.95 million during the quarter.

Hedge Funds Weigh In On FONAR

A number of large investors have recently bought and sold shares of the business. Linden Thomas Advisory Services LLC lifted its holdings 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 during the period. Money Concepts Capital Corp increased its stake in shares of FONAR by 1.2% during 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 acquiring an additional 4,719 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of FONAR by 1.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 80,035 shares of the medical equipment provider's stock worth $1,212,000 after buying an additional 945 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in FONAR by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider's stock worth $5,703,000 after acquiring an additional 2,149 shares during the period. Finally, Truffle Hound Capital LLC acquired a new position in FONAR during the fourth quarter worth about $1,363,000. Institutional investors 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.