FONAR Co. (NASDAQ:FONR) Sees Large Decrease in Short Interest

FONAR Co. (NASDAQ:FONR) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 8,500 shares, a decrease of 14.1% from the March 15th total of 9,900 shares. Based on an average daily volume of 19,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On FONAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its holdings in FONAR by 38,600.0% in the 1st quarter. UBS Group AG now owns 1,548 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 1,544 shares in the last quarter. Barclays PLC purchased a new stake in FONAR in the 4th quarter worth approximately $124,000. Royal Bank of Canada increased its holdings in FONAR by 15.4% in the 3rd quarter. Royal Bank of Canada now owns 10,500 shares of the medical equipment provider’s stock worth $148,000 after acquiring an additional 1,400 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in FONAR in the 4th quarter worth approximately $168,000. Finally, Carmel Capital Partners LLC increased its holdings in FONAR by 725.1% in the 4th quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock worth $236,000 after acquiring an additional 10,623 shares in the last quarter. 50.64% of the stock is owned by hedge funds and other institutional investors.

FONAR Stock Down 1.9 %

NASDAQ FONR opened at $16.83 on Tuesday. FONAR has a 52 week low of $12.13 and a 52 week high of $24.05. The firm has a market capitalization of $106.53 million, a P/E ratio of 9.15 and a beta of 1.12. The company has a 50-day moving average price of $21.38 and a 200-day moving average price of $18.85.

FONAR (NASDAQ:FONR) last released its quarterly earnings results on Wednesday, February 14th. The medical equipment provider reported $0.54 EPS for the quarter. FONAR had a net margin of 12.63% and a return on equity of 8.47%. The firm had revenue of $25.39 million during the quarter.

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.