FONAR Co. (NASDAQ:FONR) Short Interest Down 25.1% in February

FONAR Co. (NASDAQ:FONR) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 13,100 shares, a drop of 25.1% from the February 13th total of 17,500 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 13,500 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FONR. Peapod Lane Capital LLC purchased a new position in FONAR in the fourth quarter worth approximately $2,159,000. Truffle Hound Capital LLC purchased a new stake in shares of FONAR during the 4th quarter worth approximately $1,363,000. Money Concepts Capital Corp increased its holdings in shares of FONAR by 5.9% in the 4th quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider’s stock valued at $6,080,000 after acquiring an additional 22,245 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of FONAR by 15.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock valued at $443,000 after acquiring an additional 3,837 shares during the period. Finally, Corsair Capital Management L.P. increased its holdings in shares of FONAR by 8.8% in the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after acquiring an additional 2,266 shares during the period. Hedge funds and other institutional investors own 50.64% of the company’s stock.

FONAR Price Performance

Shares of NASDAQ FONR traded up $0.16 during midday trading on Monday, hitting $13.98. The company’s stock had a trading volume of 6,528 shares, compared to its average volume of 16,898. The business’s fifty day simple moving average is $15.19 and its two-hundred day simple moving average is $15.64. FONAR has a 1 year low of $13.27 and a 1 year high of $22.39. The firm has a market capitalization of $86.72 million, a price-to-earnings ratio of 12.16 and a beta of 1.27.

FONAR (NASDAQ:FONR) last posted its quarterly earnings data on Wednesday, February 19th. The medical equipment provider reported $0.29 EPS for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%. The business had revenue of $24.95 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.