FONAR Co. (NASDAQ:FONR) Sees Significant Increase in Short Interest

FONAR Co. (NASDAQ:FONR) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 22,700 shares, a growth of 19.5% from the March 15th total of 19,000 shares. Based on an average daily trading volume, of 13,200 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FONR. JPMorgan Chase & Co. raised its stake in shares of FONAR by 148.3% during the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after acquiring an additional 1,799 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in FONAR by 15.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock worth $443,000 after purchasing an additional 3,837 shares during the period. Money Concepts Capital Corp lifted its position in FONAR by 5.9% during 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. Empowered Funds LLC grew its stake in shares of FONAR by 5.1% in the 4th quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock worth $297,000 after buying an additional 945 shares during the last quarter. Finally, Peapod Lane Capital LLC bought a new position in shares of FONAR during the fourth quarter valued at $2,159,000. Institutional investors own 50.64% of the company’s stock.

FONAR Stock Up 0.7 %

Shares of FONR stock traded up $0.09 during mid-day trading on Tuesday, reaching $12.25. 1,681 shares of the stock traded hands, compared to its average volume of 16,115. The company has a market cap of $75.99 million, a price-to-earnings ratio of 10.69 and a beta of 1.17. The stock’s fifty day simple moving average is $13.81 and its two-hundred day simple moving average is $14.92. FONAR has a 1-year low of $12.06 and a 1-year high of $18.68.

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

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.