Fonar (NASDAQ:FONR) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Fonar Corporation (NASDAQ:FONR)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.21 and traded as high as $18.89. Fonar shares last traded at $18.85, with a volume of 83,194 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fonar in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Fonar Stock Down 0.2%

The business has a 50-day moving average price of $18.63 and a two-hundred day moving average price of $17.21. The firm has a market cap of $116.30 million, a PE ratio of 16.68 and a beta of 0.96.

Fonar (NASDAQ:FONR) last posted its quarterly earnings data on Friday, February 13th. The medical equipment provider reported $0.31 earnings per share for the quarter. The business had revenue of $18.25 million for the quarter. Fonar had a return on equity of 4.69% and a net margin of 7.13%.

Hedge Funds Weigh In On Fonar

Several large investors have recently bought and sold shares of the business. Credit Industriel ET Commercial purchased a new position in Fonar in the first quarter valued at $1,470,000. Virtu Financial LLC purchased a new position in Fonar in the fourth quarter valued at $780,000. Empowered Funds LLC increased its holdings in Fonar by 9.3% in the fourth quarter. Empowered Funds LLC now owns 27,765 shares of the medical equipment provider’s stock valued at $515,000 after buying an additional 2,373 shares during the last quarter. PenderFund Capital Management Ltd. purchased a new position in Fonar in the fourth quarter valued at $150,000. Finally, RBF Capital LLC increased its holdings in Fonar by 3.3% in the fourth quarter. RBF Capital LLC now owns 75,447 shares of the medical equipment provider’s stock valued at $1,400,000 after buying an additional 2,389 shares during the last quarter. Hedge funds and other institutional investors own 50.64% of the company’s stock.

Fonar Company Profile

Fonar Corporation is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company’s flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.

Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel.