OneMedNet Corporation (NASDAQ:ONMD) Sees Significant Increase in Short Interest

OneMedNet Corporation (NASDAQ:ONMD) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 1,816,220 shares, an increase of 425.7% from the July 15th total of 345,502 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average trading volume of 3,840,358 shares, the days-to-cover ratio is presently 0.5 days.

Insider Activity at OneMedNet

In other news, insider Jeffrey Yu purchased 172,414 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average cost of $0.58 per share, for a total transaction of $100,000.12. Following the completion of the transaction, the insider owned 8,621,680 shares of the company’s stock, valued at $5,000,574.40. This trade represents a 2.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas Kosasa acquired 1,449,275 shares of OneMedNet stock in a transaction that occurred on Thursday, July 30th. The stock was purchased at an average cost of $0.69 per share, with a total value of $999,999.75. Following the completion of the purchase, the director owned 18,538,150 shares in the company, valued at $12,791,323.50. The trade was a 8.48% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 2,300,238 shares of company stock worth $1,601,664. Company insiders own 46.20% of the company’s stock.

Institutional Investors Weigh In On OneMedNet

A number of institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of OneMedNet in the 4th quarter worth approximately $48,000. State Street Corp increased its holdings in OneMedNet by 41.5% in the 4th quarter. State Street Corp now owns 116,700 shares of the company’s stock valued at $128,000 after purchasing an additional 34,200 shares during the last quarter. Jane Street Group LLC acquired a new stake in OneMedNet in the 4th quarter valued at approximately $119,000. HRT Financial LP purchased a new stake in OneMedNet in the fourth quarter valued at approximately $32,000. Finally, Exencial Wealth Advisors LLC raised its position in OneMedNet by 1.3% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,644,861 shares of the company’s stock valued at $4,009,000 after purchasing an additional 45,401 shares during the period. 0.95% of the stock is currently owned by institutional investors and hedge funds.

OneMedNet Stock Performance

Shares of ONMD stock traded down $0.03 during trading hours on Wednesday, reaching $0.71. The company had a trading volume of 212,132 shares, compared to its average volume of 2,203,407. OneMedNet has a 12-month low of $0.45 and a 12-month high of $4.22. The company has a market capitalization of $40.72 million, a price-to-earnings ratio of -14.30 and a beta of 1.14. The stock has a fifty day moving average of $0.66 and a 200-day moving average of $0.77.

OneMedNet (NASDAQ:ONMD) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.04) EPS for the quarter. The company had revenue of $0.10 million during the quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of OneMedNet from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of OneMedNet in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

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.