FONAR (NASDAQ:FONR) Stock Crosses Above 200 Day Moving Average of $16.02

Shares of FONAR Co. (NASDAQ:FONRGet Rating) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.02 and traded as high as $18.75. FONAR shares last traded at $18.72, with a volume of 9,888 shares changing hands.

Analyst Upgrades and Downgrades

FONR has been the topic of several analyst reports. StockNews.com upgraded shares of FONAR from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 24th. TheStreet downgraded shares of FONAR from a “b-” rating to a “c+” rating in a research note on Tuesday, December 20th.

FONAR Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.84 and a current ratio of 8.01. The business’s 50 day simple moving average is $17.78 and its 200 day simple moving average is $16.05.

FONAR (NASDAQ:FONRGet Rating) last issued its earnings results on Monday, November 14th. The medical equipment provider reported $0.29 EPS for the quarter. FONAR had a net margin of 10.92% and a return on equity of 8.28%. The company had revenue of $23.19 million for the quarter.

Institutional Investors Weigh In On FONAR

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of FONAR by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 376,486 shares of the medical equipment provider’s stock valued at $6,984,000 after acquiring an additional 11,745 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of FONAR by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 41,609 shares of the medical equipment provider’s stock valued at $771,000 after purchasing an additional 1,353 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of FONAR by 27.9% in the first quarter. American Century Companies Inc. now owns 23,960 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 5,232 shares in the last quarter. State Street Corp grew its holdings in shares of FONAR by 9.6% in the first quarter. State Street Corp now owns 19,354 shares of the medical equipment provider’s stock valued at $359,000 after purchasing an additional 1,696 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of FONAR by 99.1% in the first quarter. Acadian Asset Management LLC now owns 14,018 shares of the medical equipment provider’s stock valued at $258,000 after purchasing an additional 6,978 shares in the last quarter. 44.93% of the stock is currently owned by institutional investors and hedge funds.

About FONAR

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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.

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