OneMedNet Corporation (NASDAQ:ONMD) Sees Large Decrease in Short Interest

OneMedNet Corporation (NASDAQ:ONMD) saw a significant decline in short interest in June. As of June 30th, there was short interest totaling 232,816 shares, a decline of 54.2% from the June 15th total of 508,235 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 501,081 shares, the short-interest ratio is currently 0.5 days.

Insider Transactions at OneMedNet

In other news, insider Jeffrey Yu acquired 158,730 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $0.63 per share, with a total value of $99,999.90. Following the acquisition, the insider directly owned 8,780,410 shares of the company’s stock, valued at approximately $5,531,658.30. The trade was a 1.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Kosasa acquired 158,730 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $0.63 per share, for a total transaction of $99,999.90. Following the completion of the acquisition, the director directly owned 17,088,874 shares in the company, valued at approximately $10,765,990.62. This represents a 0.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 1,131,861 shares of company stock worth $851,664 over the last quarter. 46.20% of the stock is owned by company insiders.

Institutional Trading of OneMedNet

Several hedge funds and other institutional investors have recently bought and sold shares of ONMD. Jane Street Group LLC bought a new position in shares of OneMedNet in the 4th quarter worth $119,000. Exencial Wealth Advisors LLC boosted its position in OneMedNet by 1.3% during 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 in the last quarter. Virtu Financial LLC bought a new stake in OneMedNet during the fourth quarter valued at about $48,000. State Street Corp grew its stake in OneMedNet by 41.5% in the fourth 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. Finally, HRT Financial LP bought a new position in OneMedNet in the fourth quarter worth about $32,000. Institutional investors own 0.95% of the company’s stock.

OneMedNet Price Performance

Shares of NASDAQ:ONMD traded up $0.03 during trading hours on Wednesday, hitting $0.76. The company’s stock had a trading volume of 43,063 shares, compared to its average volume of 2,133,799. The firm’s fifty day moving average price is $0.75 and its 200 day moving average price is $0.83. OneMedNet has a 52 week low of $0.44 and a 52 week high of $4.22. The company has a market capitalization of $43.03 million, a price-to-earnings ratio of -15.11 and a beta of 1.14.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on ONMD shares. Wall Street Zen downgraded OneMedNet from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of OneMedNet in a research note on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

OneMedNet Company Profile

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.