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FONR - Fonar Is A Perfect Example For The Magic Formula
Fonar Corporation
Fonar Corporation (FONR) is probably one of the most undervalued stocks we have seen so far since the market collapse in early March.
Its share price has gone down from about $20 a share at the beginning of the month to a current $12.13:
Source: finviz.com
At current levels, the company is trading below its sector median and its 5-year average valuation ratios.
The company has a pristine balance sheet with zero financial debt and $28.7M in operating leases, yet its cash balance alone covers 97% of its total liabilities.