StockNews.com Lowers FONAR (NASDAQ:FONR) to Buy

StockNews.com lowered shares of FONAR (NASDAQ:FONR) from a strong-buy rating to a buy rating in a report released on Tuesday.

FONAR Price Performance

Shares of FONAR stock opened at $17.40 on Tuesday. The company has a 50 day simple moving average of $17.26 and a two-hundred day simple moving average of $17.47. The firm has a market cap of $110.11 million, a PE ratio of 11.15 and a beta of 1.19. FONAR has a 1 year low of $12.13 and a 1 year high of $24.05.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Inspire Advisors LLC purchased a new position in shares of FONAR in the 1st quarter worth about $218,000. Denali Advisors LLC boosted its stake in FONAR by 20.1% in the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock worth $344,000 after buying an additional 2,700 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in FONAR by 9.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock valued at $346,000 after acquiring an additional 1,900 shares during the last quarter. Empowered Funds LLC raised its stake in shares of FONAR by 37.6% during the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock worth $352,000 after acquiring an additional 4,507 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of FONAR by 38.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock worth $704,000 after acquiring an additional 9,237 shares during the last quarter. Institutional investors own 50.64% of the company’s stock.

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.