Fonar (NASDAQ:FONR) Share Price Crosses Below Two Hundred Day Moving Average of $21.40

Fonar Co. (NASDAQ:FONR) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.40 and traded as low as $20.63. Fonar shares last traded at $20.75, with a volume of 17,076 shares traded.

A number of equities analysts have issued reports on FONR shares. TheStreet cut Fonar from a “b” rating to a “c+” rating in a report on Monday, November 18th. ValuEngine raised Fonar from a “hold” rating to a “buy” rating in a report on Saturday, October 19th.

The business has a fifty day simple moving average of $20.00 and a 200-day simple moving average of $21.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.13 and a current ratio of 6.25. The firm has a market cap of $133.79 million, a price-to-earnings ratio of 9.48 and a beta of 0.66.

Fonar (NASDAQ:FONR) last issued its earnings results on Tuesday, November 12th. The medical equipment provider reported $0.47 earnings per share (EPS) for the quarter. Fonar had a return on equity of 12.35% and a net margin of 16.27%. The business had revenue of $21.75 million during the quarter.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its holdings in Fonar by 31.4% in the 3rd quarter. Millennium Management LLC now owns 29,841 shares of the medical equipment provider’s stock worth $616,000 after purchasing an additional 7,126 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Fonar by 79.2% in the 3rd quarter. Squarepoint Ops LLC now owns 17,639 shares of the medical equipment provider’s stock worth $365,000 after purchasing an additional 7,794 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Fonar by 9,558.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,443 shares of the medical equipment provider’s stock worth $92,000 after purchasing an additional 4,397 shares in the last quarter. First Trust Advisors LP increased its holdings in Fonar by 25.3% in the 3rd quarter. First Trust Advisors LP now owns 14,421 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 2,910 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Fonar by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 48,175 shares of the medical equipment provider’s stock worth $996,000 after purchasing an additional 2,600 shares in the last quarter. 47.90% of the stock is owned by institutional investors and hedge funds.

Fonar Company Profile (NASDAQ:FONR)

FONAR Corporation, together with its subsidiaries, operates as a magnetic resonance imaging (MRI) company primarily in the Unites States. It is involved in the research, development, production, and marketing of medical scanning equipment, which uses principles of MRI for the detection and diagnosis of human diseases, abnormalities, other medical conditions, and injuries.

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