FONAR (NASDAQ:FONR) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

FONAR Co. (NASDAQ:FONR)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.27 and traded as low as $15.40. FONAR shares last traded at $15.71, with a volume of 10,059 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com lowered FONAR from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 16th.

FONAR Price Performance

The stock has a fifty day moving average price of $15.60 and a two-hundred day moving average price of $16.27. The company has a market cap of $99.41 million, a P/E ratio of 11.22 and a beta of 1.21.

FONAR (NASDAQ:FONR) last released its earnings results on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $25.94 million during the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%.

Hedge Funds Weigh In On FONAR

Several institutional investors have recently added to or reduced their stakes in the stock. Lakewood Asset Management LLC purchased a new position in FONAR in the third quarter valued at about $173,000. Empowered Funds LLC grew its holdings in FONAR by 5.3% during the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock valued at $303,000 after purchasing an additional 938 shares during the period. Corsair Capital Management L.P. increased its position in FONAR by 8.8% in the third quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock worth $453,000 after buying an additional 2,266 shares during the last quarter. Inspire Advisors LLC lifted its position in shares of FONAR by 177.3% during the 2nd quarter. Inspire Advisors LLC now owns 28,344 shares of the medical equipment provider’s stock valued at $454,000 after buying an additional 18,124 shares during the last quarter. Finally, Acuitas Investments LLC grew its stake in shares of FONAR by 142.1% during the 2nd quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider’s stock worth $1,814,000 after acquiring an additional 66,563 shares during the period. Institutional investors own 50.64% of the company’s stock.

About FONAR

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.