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

FONAR Co. (NASDAQ:FONR) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 17,100 shares, a growth of 6.2% from the December 15th total of 16,100 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 16,600 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

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

Institutional Trading of FONAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in FONR. Renaissance Technologies LLC grew its position in FONAR by 11.5% in the second quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider’s stock worth $5,507,000 after buying an additional 35,375 shares during the last quarter. Inspire Advisors LLC boosted its stake in shares of FONAR by 21.2% during the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after acquiring an additional 5,998 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of FONAR by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 609,789 shares of the medical equipment provider’s stock worth $9,757,000 after acquiring an additional 7,645 shares during the last quarter. Empowered Funds LLC raised its position in shares of FONAR by 5.3% during the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock worth $303,000 after purchasing an additional 938 shares during the period. Finally, Lakewood Asset Management LLC purchased a new stake in shares of FONAR during the third quarter valued at $173,000. 50.64% of the stock is owned by institutional investors and hedge funds.

FONAR Stock Down 0.4 %

FONAR stock traded down $0.06 during midday trading on Friday, hitting $15.22. The company’s stock had a trading volume of 17,352 shares, compared to its average volume of 9,350. FONAR has a 12 month low of $14.05 and a 12 month high of $24.05. The stock’s 50-day moving average price is $15.48 and its 200-day moving average price is $16.23. The company has a market capitalization of $96.31 million, a PE ratio of 10.87 and a beta of 1.22.

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.