OneMedNet Corporation (NASDAQ:ONMD) Short Interest Update

OneMedNet Corporation (NASDAQ:ONMD) saw a significant decrease in short interest in April. As of April 15th, there was short interest totaling 619,780 shares, a decrease of 18.1% from the March 31st total of 757,167 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily volume of 314,216 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of OneMedNet in a research report on Friday, January 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

OneMedNet Stock Down 7.9%

Shares of NASDAQ ONMD traded down $0.08 during midday trading on Friday, hitting $1.00. The stock had a trading volume of 753,729 shares, compared to its average volume of 950,257. The company has a market capitalization of $51.95 million, a PE ratio of -14.22 and a beta of 1.25. The stock has a 50 day simple moving average of $0.84 and a 200-day simple moving average of $1.21. OneMedNet has a 1 year low of $0.31 and a 1 year high of $4.22.

OneMedNet (NASDAQ:ONMD) last released its earnings results on Monday, March 30th. The company reported ($0.07) earnings per share for the quarter. The firm had revenue of $0.89 million during the quarter.

Insider Buying and Selling

In other news, Director Thomas Kosasa bought 595,238 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were acquired at an average price of $0.84 per share, for a total transaction of $499,999.92. Following the completion of the transaction, the director directly owned 16,380,429 shares in the company, valued at $13,759,560.36. The trade was a 3.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Yu bought 903,614 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was purchased at an average price of $0.83 per share, for a total transaction of $749,999.62. Following the transaction, the insider owned 8,229,837 shares of the company’s stock, valued at approximately $6,830,764.71. This represents a 12.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 1,779,750 shares of company stock worth $1,499,999 in the last quarter. 46.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneMedNet

Several hedge funds and other institutional investors have recently made changes to their positions in ONMD. Correct Capital Wealth Management acquired a new stake in shares of OneMedNet in the third quarter valued at approximately $4,910,000. 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 last quarter. Jane Street Group LLC acquired a new stake in shares of OneMedNet in the fourth quarter valued at approximately $119,000. Virtu Financial LLC acquired a new stake in shares of OneMedNet in the fourth quarter valued at approximately $48,000. Finally, State Street Corp increased its holdings in shares of 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. Institutional investors and hedge funds own 0.95% of the company’s stock.

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.