Fonar (NASDAQ:FONR) Stock Crosses Above 200-Day Moving Average of $21.77

Shares of Fonar Co. (NASDAQ:FONR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.77 and traded as high as $23.09. Fonar shares last traded at $22.58, with a volume of 2,453 shares trading hands.

The stock has a market capitalization of $144.18 million, a P/E ratio of 10.69 and a beta of 0.78. The company’s 50-day moving average price is $24.02 and its 200 day moving average price is $21.77.

Several hedge funds have recently made changes to their positions in FONR. BNP Paribas Arbitrage SA raised its position in shares of Fonar by 720.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,312 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 1,152 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of Fonar during the 1st quarter valued at $49,000. Russell Investments Group Ltd. raised its position in shares of Fonar by 23.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,362 shares of the medical equipment provider’s stock valued at $51,000 after purchasing an additional 456 shares during the period. Morgan Stanley raised its position in shares of Fonar by 86.7% during the 2nd quarter. Morgan Stanley now owns 4,099 shares of the medical equipment provider’s stock valued at $89,000 after purchasing an additional 1,904 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of Fonar by 14.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,334 shares of the medical equipment provider’s stock valued at $93,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors 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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