FONAR: Recent Selloff Seems Unjustified As EV/EBITDA Approaches 4x [Seeking Alpha]
Fonar Corporation (FONR)
US:NASDAQ Investor Relations:
fonar.com/investor.htm
Company Research
Source: Seeking Alpha
In my view, the Q2 FY24 results were strong as revenues inched up by 4.7% to $25.4 million while attributable net income soared by 68.4% to $3.8 million. The market capitalization of Fonar slumped by over 20% in the past month, and I think this creates a good buying opportunity here. In my view, the EV/EBITDA ratio could return to above 6x by the end of 2024. Microcap Review members get exclusive access to our real-world portfolio. See all our investments here » Introduction I recently created a screener on SA for microcap stocks trading below 6x EV/EBITDA and one name that caught my attention was FONAR Corp. ( NASDAQ: FONR ). The company has a strong balance sheet and I think its Q2 FY24 financial results were strong as TTM EBITDA reached $22.8 million. Yet, its market capitalization has slumped by over 20% in the past month and the EV/EBITDA ratio stands at just 4.2x as of the time of writing. In my view, Fonar is starting to look oversold here, and my rating on the stock
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FONR
News
- With 50% institutional ownership, FONAR Corporation (NASDAQ:FONR) is a favorite amongst the big guns [Yahoo! Finance]Yahoo! Finance
- FONAR's (NASDAQ:FONR) investors will be pleased with their respectable 36% return over the last year [Yahoo! Finance]Yahoo! Finance
- Global Bio-imaging Market to Hit $15.58 Billion by 2030 Growing Applications of Bio-imaging in Drug Discovery | Says Coherent Market Insights [Yahoo! Finance]Yahoo! Finance
- FONAR Corporation's (NASDAQ:FONR) Stock is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue? [Yahoo! Finance]Yahoo! Finance
- Fonar Announces Six Months and 2nd Quarter Financial Results for Fiscal 2024 [Yahoo! Finance]Yahoo! Finance
FONR
Sec Filings
- 4/8/24 - Form DEF
- 2/15/24 - Form 8-K
- 2/14/24 - Form 10-Q
- FONR's page on the SEC website