Fonar's (FONR) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Fonar's (FONR) stock has been reaffirmed with a "hold (C-)" rating by Weiss Ratings, highlighting a cautious outlook from analysts.
• Wall Street Zen has downgraded Fonar from a "strong-buy" to a "buy" rating, with the average rating currently remaining at "Hold".
• In its latest quarterly results, Fonar reported earnings of $0.11 per share and revenues of $27.28 million.

Fonar (NASDAQ:FONR - Get Free Report)'s stock had its "hold (c-)" rating reissued by equities researchers at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered Fonar from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 20th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".

Fonar Price Performance

Shares of NASDAQ FONR traded up $0.32 during midday trading on Tuesday, reaching $15.82. 2,904 shares of the stock traded hands, compared to its average volume of 18,903. The stock has a market capitalization of $98.08 million, a PE ratio of 12.86 and a beta of 0.91. Fonar has a one year low of $12.00 and a one year high of $17.62. The company's 50 day moving average is $15.52 and its 200 day moving average is $14.54.

Fonar (NASDAQ:FONR - Get Free Report) last released its quarterly earnings results on Monday, September 22nd. The medical equipment provider reported $0.11 earnings per share 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 for the quarter.

Institutional Trading of Fonar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management purchased a new stake in Fonar in the second quarter worth $157,000. Empowered Funds LLC increased 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 during the period. Linden Thomas Advisory Services LLC increased 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 during the period. Bridgeway Capital Management LLC increased 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 during the period. Finally, Money Concepts Capital Corp increased 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 during the period. Hedge funds and other 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.

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