Shares of Fonar Corporation (NASDAQ:FONR - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.41 and traded as high as $15.37. Fonar shares last traded at $15.15, with a volume of 9,557 shares.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen lowered shares of Fonar from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th.
View Our Latest Research Report on Fonar
Fonar Stock Down 1.4%
The company has a market capitalization of $93.98 million, a PE ratio of 12.32 and a beta of 0.97. The business has a 50 day simple moving average of $15.53 and a 200 day simple moving average of $14.41.
Fonar (NASDAQ:FONR - Get Free Report) last issued its earnings results on Monday, September 22nd. The medical equipment provider reported $0.11 earnings per share (EPS) for the quarter. Fonar had a return on equity of 5.22% and a net margin of 7.99%.The company had revenue of $27.28 million during the quarter.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of FONR. Ritholtz Wealth Management purchased a new stake in Fonar during the second quarter worth $157,000. Empowered Funds LLC grew its holdings in shares of Fonar by 7.7% in the first quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider's stock valued at $296,000 after purchasing an additional 1,504 shares during the period. 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 valued at $477,000 after acquiring an additional 4,818 shares during the last quarter. Bridgeway Capital Management LLC lifted 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 valued at $1,247,000 after purchasing an additional 1,843 shares during the last quarter. Finally, Money Concepts Capital Corp boosted its stake in Fonar by 1.2% during the first quarter. Money Concepts Capital Corp now owns 406,296 shares of the medical equipment provider's stock worth $5,692,000 after buying an additional 4,719 shares during the period. 50.64% of the stock is currently owned by hedge funds and other institutional investors.
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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