Radnet Hits New 12-Month High on Analyst Upgrade (RDNT)
Shares of Radnet (NASDAQ:RDNT) reached a new 52-week high on Thursday after Deutsche Bank raised their price target on the stock to $9.00, Analyst Ratings Net reports. The company traded as high as $6.95 and last traded at $6.88, with a volume of 1,249,085 shares traded. The stock had previously closed at $6.34.
The stock has a 50-day moving average of $5.63 and a 200-day moving average of $3.06. The company’s market cap is $288.1 million. Radnet also was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,345,399 shares, an increase of 79.3% from the April 30th total of 750,566 shares. Based on an average daily trading volume, of 1,354,851 shares, the short-interest ratio is currently 1.0 days. Approximately 4.5% of the shares of the company are short sold.
Radnet (NASDAQ:RDNT) last announced its earnings results on Friday, May 9th. The company reported ($0.03) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.06) by $0.03. The company had revenue of $168.90 million for the quarter, compared to the consensus estimate of $173.53 million. Analysts expect that Radnet will post $0.19 EPS for the current fiscal year.
RadNet, Inc (NASDAQ:RDNT) operates a group of regional networks comprising 180 diagnostic imaging facilities located in seven states with operations in California, Maryland, the Treasure Coast area of Florida, Kansas, Delaware, New Jersey and the Finger Lakes (Rochester) and Hudson Valley areas of New York.
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