FONAR (NASDAQ:FONR) Cut to Buy at StockNews.com

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

FONAR Stock Performance

Shares of NASDAQ FONR opened at $16.00 on Tuesday. The stock has a 50 day moving average price of $15.78 and a 200 day moving average price of $18.82. The stock has a market capitalization of $101.28 million, a PE ratio of 10.26 and a beta of 1.21. FONAR has a 52 week low of $12.13 and a 52 week high of $24.05.

Institutional Investors Weigh In On FONAR

Institutional investors and hedge funds have recently modified their holdings of the company. Marquette Asset Management LLC bought a new stake in shares of FONAR during the fourth quarter worth approximately $168,000. Lakewood Asset Management LLC bought a new position in FONAR during the 1st quarter worth $205,000. Inspire Advisors LLC acquired a new stake in shares of FONAR during the first quarter worth $218,000. Carmel Capital Partners LLC boosted its position in shares of FONAR by 725.1% in the fourth quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after acquiring an additional 10,623 shares during the period. Finally, Denali Advisors LLC grew its stake in shares of FONAR by 20.1% in the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after acquiring an additional 2,700 shares in the last quarter. 50.64% of the stock is owned by institutional investors.

About FONAR

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.