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

OneMedNet Corporation (NASDAQ:ONMD) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 1,720,441 shares, a growth of 446.8% from the February 26th total of 314,631 shares. Approximately 6.3% of the company’s shares are short sold. Based on an average trading volume of 1,479,468 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 1,479,468 shares, the days-to-cover ratio is presently 1.2 days. Approximately 6.3% of the company’s shares are short sold.

Institutional Trading of OneMedNet

A number of hedge funds and other institutional investors have recently bought and sold shares of ONMD. Exencial Wealth Advisors LLC lifted its stake 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 buying an additional 2,107,598 shares in the last quarter. Correct Capital Wealth Management acquired a new stake in shares of OneMedNet in the 3rd quarter worth about $4,910,000. Jane Street Group LLC acquired a new stake in shares of OneMedNet in the 4th quarter worth about $119,000. State Street Corp lifted its position 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 acquiring an additional 34,200 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in OneMedNet during the 4th quarter valued at about $48,000. Institutional investors own 0.95% of the company’s stock.

OneMedNet Stock Performance

Shares of NASDAQ:ONMD opened at $0.83 on Wednesday. OneMedNet has a 52-week low of $0.30 and a 52-week high of $4.22. The business’s 50 day simple moving average is $0.77 and its two-hundred day simple moving average is $1.28. The firm has a market cap of $42.14 million, a P/E ratio of -16.52 and a beta of 1.08.

Analysts Set New Price Targets

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