Fonar (NASDAQ:FONR) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?
by Sarita Garza · The Markets DailyFonar Corporation (NASDAQ:FONR – Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.45 and traded as high as $18.45. Fonar shares last traded at $18.45, with a volume of 26,117 shares trading hands.
Analyst Ratings Changes
Separately, Wall Street Zen upgraded Fonar to a “hold” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Fonar Price Performance
The firm’s fifty day moving average price is $18.57 and its 200-day moving average price is $16.47. The firm has a market capitalization of $113.47 million, a P/E ratio of 16.27 and a beta of 0.99.
Fonar (NASDAQ:FONR – Get Free Report) last announced its earnings results on Friday, February 13th. The medical equipment provider reported $0.31 EPS for the quarter. The firm 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%.
Institutional Trading of Fonar
Several institutional investors have recently modified their holdings of FONR. Money Concepts Capital Corp grew its holdings in Fonar by 5.6% during the fourth quarter. Money Concepts Capital Corp now owns 510,672 shares of the medical equipment provider’s stock worth $9,478,000 after acquiring an additional 27,150 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Fonar by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 376,976 shares of the medical equipment provider’s stock valued at $5,677,000 after acquiring an additional 4,413 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Fonar by 2.3% during the 4th quarter. Renaissance Technologies LLC now owns 315,716 shares of the medical equipment provider’s stock valued at $5,860,000 after purchasing an additional 7,100 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Fonar by 2.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider’s stock worth $1,247,000 after purchasing an additional 1,843 shares during the last quarter. Finally, RBF Capital LLC raised its holdings in shares of Fonar by 3.3% in the 4th quarter. RBF Capital LLC now owns 75,447 shares of the medical equipment provider’s stock worth $1,400,000 after purchasing an additional 2,389 shares in the last quarter. Institutional investors and hedge funds own 50.64% of the company’s stock.
About Fonar
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.