Fonar (NASDAQ:FONR) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Fonar Corporation (NASDAQ:FONR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.95 and traded as high as $18.59. Fonar shares last traded at $18.54, with a volume of 71,984 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Fonar to a “hold” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Fonar Stock Performance

The firm has a market capitalization of $114.95 million, a price-to-earnings ratio of 16.70 and a beta of 1.00. The stock’s fifty day moving average is $17.26 and its two-hundred day moving average is $15.95.

Fonar (NASDAQ:FONR) last posted its quarterly earnings data on Monday, November 10th. The medical equipment provider reported $0.34 earnings per share for the quarter. The company had revenue of $26.04 million during the quarter. Fonar had a net margin of 7.08% and a return on equity of 4.66%.

Institutional Investors Weigh In On Fonar

A number of hedge funds have recently bought and sold shares of the business. Money Concepts Capital Corp grew its stake in Fonar by 5.6% during the 4th quarter. Money Concepts Capital Corp now owns 510,672 shares of the medical equipment provider’s stock valued at $9,478,000 after purchasing an additional 27,150 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Fonar by 1.2% during 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 buying an additional 4,413 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Fonar by 2.3% during the fourth quarter. Renaissance Technologies LLC now owns 315,716 shares of the medical equipment provider’s stock worth $5,860,000 after buying an additional 7,100 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Fonar by 2.3% in the second quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider’s stock worth $1,247,000 after buying an additional 1,843 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Fonar by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 69,612 shares of the medical equipment provider’s stock valued at $1,292,000 after acquiring an additional 1,336 shares in the last quarter. Institutional investors and hedge funds own 50.64% of the company’s stock.

Fonar Company Profile

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.