Fonar Stock Soars (FONR)

NEW YORK ( TheStreet) -- Shares of Fonar Corporation (Nasdaq: FONR) have taken a tremendous swing upward. The stock is trading at $2.14 as of 9:46 a.m. ET, 25.1% above Monday's closing price of $1.71. Volume is at 161,906, 5.7 times the daily average of 28,400.

Fonar has a market cap of $10.7 million and is part of the health care sector and health services industry. Shares are up 31.5% year to date as of the close of trading on Monday.

FONAR Corporation engages in the research, development, production, marketing, and service of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases. The company has a P/E ratio of 3.2, equal to the average health services industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Fonar as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company's revenue growth has not been good. You can view the full Fonar Ratings Report.

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