Short Interest in OneMedNet Corporation (NASDAQ:ONMD) Decreases By 54.2%

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

Analyst Upgrades and Downgrades

ONMD has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of OneMedNet in a research report on Monday, June 1st. Wall Street Zen cut shares of OneMedNet from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

OneMedNet Trading Down 1.7%

ONMD stock traded down $0.01 during trading on Tuesday, hitting $0.73. The company had a trading volume of 17,364 shares, compared to its average volume of 2,149,329. The company has a fifty day moving average price of $0.75 and a two-hundred day moving average price of $0.84. OneMedNet has a fifty-two week low of $0.44 and a fifty-two week high of $4.22. The company has a market cap of $41.74 million, a P/E ratio of -14.66 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 business had revenue of $0.10 million during the quarter.

Insider Buying and Selling

In other news, insider Jeffrey Yu acquired 158,730 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $0.63 per share, for a total transaction of $99,999.90. Following the completion of the transaction, the insider owned 8,780,410 shares in the company, valued at approximately $5,531,658.30. This trade represents a 1.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Kosasa bought 158,730 shares of OneMedNet stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average cost of $0.63 per share, with a total value of $99,999.90. Following the completion of the transaction, the director owned 17,088,874 shares of the company’s stock, valued at $10,765,990.62. This trade represents a 0.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,131,861 shares of company stock valued at $851,664 in the last quarter. Corporate insiders own 46.20% of the company’s stock.

Institutional Investors Weigh In On OneMedNet

Hedge funds have recently made changes to their positions in the company. HRT Financial LP bought a new position in OneMedNet during the 4th quarter valued at about $32,000. Virtu Financial LLC bought a new stake in OneMedNet during the fourth quarter worth about $48,000. Jane Street Group LLC bought a new stake in OneMedNet during the fourth quarter worth about $119,000. State Street Corp increased its holdings in shares of OneMedNet by 41.5% during the fourth quarter. State Street Corp now owns 116,700 shares of the company’s stock worth $128,000 after buying an additional 34,200 shares in the last quarter. Finally, Exencial Wealth Advisors LLC increased its holdings in shares of OneMedNet by 1.3% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,644,861 shares of the company’s stock worth $4,009,000 after buying an additional 45,401 shares in 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.