FONAR (NASDAQ:FONR) Downgraded to “Buy” at StockNews.com

StockNews.com cut shares of FONAR (NASDAQ:FONR) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.

FONAR Trading Up 2.2 %

Shares of FONR stock opened at $17.55 on Tuesday. FONAR has a 12-month low of $12.13 and a 12-month high of $24.05. The business’s 50 day moving average is $17.22 and its two-hundred day moving average is $17.47. The company has a market capitalization of $111.06 million, a P/E ratio of 11.25 and a beta of 1.19.

Institutional Investors Weigh In On FONAR

Institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in FONAR by 1.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 609,789 shares of the medical equipment provider’s stock valued at $9,757,000 after purchasing an additional 7,645 shares in the last quarter. Renaissance Technologies LLC lifted its stake in FONAR by 11.5% in the 2nd quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider’s stock valued at $5,507,000 after buying an additional 35,375 shares in the last quarter. Acuitas Investments LLC boosted its holdings in FONAR by 142.1% in the 2nd quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider’s stock worth $1,814,000 after buying an additional 66,563 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in FONAR by 7.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 66,200 shares of the medical equipment provider’s stock worth $1,414,000 after buying an additional 4,800 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of FONAR by 38.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 9,237 shares during the last quarter. Institutional investors and hedge funds own 50.64% of the company’s stock.

FONAR Company Profile

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.