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

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

FONAR Stock Down 1.9 %

FONAR stock opened at $16.83 on Tuesday. The stock has a 50-day simple moving average of $21.38 and a 200 day simple moving average of $18.85. FONAR has a 12-month low of $12.13 and a 12-month high of $24.05. The stock has a market capitalization of $106.53 million, a price-to-earnings ratio of 9.15 and a beta of 1.12.

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

Institutional Trading of FONAR

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

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.