The stock is trading at $32.80 which is just over the 50 day moving average which is $30.46 and a great deal higher than the 200 day moving average of $26.52. The 50 day moving average was up $2.34 or +7.69% and the 200 day average went up by +23.66%. (NASDAQ:FONR) shares saw light trading volume with 622 shares changing hands by the end of trading on Tuesday. Trading volume was down 98.85% under the stocks average daily volume.
Short traders are more bullish of late if you take into consideration the fall in short interest. The firm had a fall in short interest of -33.99% as of the latest report on September 29, 2017. Short interest decreased 82,359 over that period. The days to cover decreased to 5.0 and the short interest percentage is 0.02% as of September 29.
These firms have modified their investment in FONR. Ubs Group Ag reduced its ownership by selling 641 shares a decrease of 60.5% from 03/31/2017 to 06/30/2017. Ubs Group Ag currently owns 419 shares with a value of $12,000. The value of the position overall is down by 36.8%. As of quarter end Stanley-laman Group, Ltd. had bought 1,890 shares growing its stake by 9.9%. The value of the investment in Fonar Corporation increased from $337,000 to $585,000 a change of $248,000 for the reporting period.
As of the end of the quarter Acadian Asset Management LLC had disposed of a total of 2,508 shares trimming its position 2.7%. The value of the company’s investment in Fonar Corporation went from $2,541,000 to $2,716,000 a change of 6.9% since the last quarter. Denali Advisors LLC expanded its stake by buying 59 shares an increase of 46.1%. Denali Advisors LLC controls 187 shares valued at $6,000. The total value of its holdings increased 50.0%.
The P/E ratio is currently 11.25 and market capitalization is 210.41M.
Fonar Corporation (Fonar), launched on July 17, 1978, is involved in the business of designing, manufacturing, selling and servicing magnetic resonance imaging (MRI) scanners, which utilizes MRI technology for the detection and diagnosis of human disease, abnormalities, other medical conditions and injuries. The Company operates its business through two segments: Medical Equipment segment, and Physician Management and Diagnostic Services segment. Its Medical Equipment segment is conducted through Fonar. Its Physician Management and Diagnostic Services segment is conducted through its subsidiary Health Management Company of America (HMCA). HMCA provides management services, administrative services, billing and collection services, office space, equipment, repair, maintenance service, and clerical and other non-medical personnel to various medical providers engaged in diagnostic imaging. As of June 30, 2016, HMCA owns and operates four diagnostic imaging facilities in Florida, where the corporate practice of medicine is permitted..