Free Trial

Fonar (NASDAQ:FONR) Stock Price Passes Above 200 Day Moving Average - Time to Sell?

Fonar logo with Medical background

Key Points

  • Fonar Corporation's stock has surged past its 200-day moving average of $14.33, reaching a trading high of $15.61 on Monday.
  • Analysts from Wall Street Zen have upgraded Fonar's rating from "buy" to "strong-buy", indicating increased confidence in the stock's performance.
  • The company reported $0.37 earnings per share for its last quarterly earnings, showcasing a net margin of 8.19% and a PE ratio of 12.29.
  • Looking to Export and Analyze Fonar Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Shares of Fonar Corporation (NASDAQ:FONR - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.33 and traded as high as $15.61. Fonar shares last traded at $15.36, with a volume of 47,815 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Fonar from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th.

Get Our Latest Research Report on Fonar

Fonar Trading Down 0.9%

The firm has a market cap of $97.90 million, a P/E ratio of 12.63 and a beta of 0.96. The firm's 50 day moving average is $15.20 and its two-hundred day moving average is $14.35.

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

Institutional Investors Weigh In On Fonar

Several large investors have recently modified their holdings of the business. Ritholtz Wealth Management acquired a new position in shares of Fonar in the second quarter valued at approximately $157,000. Linden Thomas Advisory Services LLC raised its stake in shares of Fonar by 16.5% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 34,054 shares of the medical equipment provider's stock valued at $477,000 after purchasing an additional 4,818 shares during the period. Money Concepts Capital Corp grew its stake in shares of Fonar by 1.2% during the 1st quarter. Money Concepts Capital Corp now owns 406,296 shares of the medical equipment provider's stock worth $5,692,000 after acquiring an additional 4,719 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fonar by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 376,678 shares of the medical equipment provider's stock worth $5,703,000 after purchasing an additional 2,149 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Fonar by 7.7% during 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 during the last quarter. 50.64% of the stock is currently owned by 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.

Recommended Stories

Should You Invest $1,000 in Fonar Right Now?

Before you consider Fonar, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fonar wasn't on the list.

While Fonar currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Quantum Boom: 3 Strong Picks with Lower Risk
3 Overlooked AI Stocks That Chipmakers Can’t Live Without
Palantir & AMD Earnings: Massive Options Setups Ahead

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines