Short Interest in OneMedNet Corporation (NASDAQ:ONMD) Declines By 68.2%

OneMedNet Corporation (NASDAQ:ONMD) saw a significant decline in short interest in December. As of December 31st, there was short interest totaling 134,674 shares, a decline of 68.2% from the December 15th total of 423,841 shares. Based on an average daily volume of 484,008 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the company’s stock are sold short. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 484,008 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ONMD. Weiss Ratings restated a “sell (d-)” rating on shares of OneMedNet in a research note on Friday, January 9th. Wall Street Zen raised OneMedNet to a “hold” rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Insider Buying and Selling

In other news, CEO Aaron Green sold 64,767 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $2.23, for a total value of $144,430.41. Following the sale, the chief executive officer directly owned 1,865,658 shares of the company’s stock, valued at $4,160,417.34. This represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 46.20% of the company’s stock.

Hedge Funds Weigh In On OneMedNet

Large investors have recently bought and sold shares of the business. Correct Capital Wealth Management acquired a new position in shares of OneMedNet during the third quarter worth $4,910,000. Ashton Thomas Private Wealth LLC purchased a new stake in OneMedNet during the 3rd quarter valued at about $25,000. Finally, Exencial Wealth Advisors LLC increased its holdings in shares of OneMedNet by 141.3% in the third quarter. Exencial Wealth Advisors LLC now owns 3,599,460 shares of the company’s stock valued at $3,923,000 after purchasing an additional 2,107,598 shares during the period. Hedge funds and other institutional investors own 0.95% of the company’s stock.

OneMedNet Price Performance

Shares of ONMD stock traded down $0.25 during trading hours on Thursday, hitting $0.85. The stock had a trading volume of 957,766 shares, compared to its average volume of 387,795. The stock has a market capitalization of $43.36 million, a price-to-earnings ratio of -17.00 and a beta of 1.15. OneMedNet has a one year low of $0.30 and a one year high of $4.22. The stock’s 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.22.

OneMedNet (NASDAQ:ONMD) last posted its earnings results on Friday, November 14th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $0.18 million during the quarter.

About OneMedNet

OneMedNet Corporation provides clinical imaging solutions. It offers iRWD, a solution that utilizes AI to securely de-identify, search, and curate imaging data for its partner network consisting of medical and academic research institutions to generate progression in stages of medical research, discovery and diagnostics that span the field of life sciences. OneMedNet Corporation is based in Eden Prairie, Minnesota.