Fonar (NASDAQ:FONR) Shares Pass Above 200 Day Moving Average of $21.71

Fonar Co. (NASDAQ:FONR)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.71 and traded as high as $24.41. Fonar shares last traded at $24.21, with a volume of 5,921 shares traded.

The company has a market cap of $149.91 million, a P/E ratio of 7.78 and a beta of 0.78. The company has a 50 day moving average price of $23.92 and a 200-day moving average price of $21.72.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Fonar by 4.2% during the 2nd quarter. Renaissance Technologies LLC now owns 518,216 shares of the medical equipment provider’s stock worth $11,147,000 after buying an additional 21,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fonar by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 312,020 shares of the medical equipment provider’s stock valued at $6,315,000 after acquiring an additional 19,104 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Fonar in the second quarter valued at approximately $5,405,000. Paloma Partners Management Co acquired a new position in shares of Fonar during the second quarter valued at approximately $684,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of Fonar during the second quarter valued at approximately $513,000. Institutional investors and hedge funds own 49.22% of the company’s stock.

Fonar Company Profile (NASDAQ:FONR)

FONAR Corporation, together with its subsidiaries, operates as a magnetic resonance imaging (MRI) company primarily in the Unites States. It is involved in the research, development, production, and marketing of medical scanning equipment, which uses principles of MRI for the detection and diagnosis of human diseases, abnormalities, other medical conditions, and injuries.

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