OneMedNet (NASDAQ:ONMD) Trading Down 3.9% – Here’s Why

Shares of OneMedNet Corporation (NASDAQ:ONMD) fell 3.9% during mid-day trading on Thursday . The stock traded as low as $0.7375 and last traded at $0.79. 320,701 shares traded hands during mid-day trading, an increase of 0% from the average session volume of 319,284 shares. The stock had previously closed at $0.8220.

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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

OneMedNet Stock Down 3.9%

The firm has a market cap of $40.30 million, a PE ratio of -15.80 and a beta of 1.13. The business has a 50-day moving average price of $1.21 and a two-hundred day moving average price of $1.25.

OneMedNet (NASDAQ:ONMD) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $0.18 million during the quarter.

Insiders Place Their Bets

In related news, CEO Aaron Green sold 61,555 shares of OneMedNet stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $1.20, for a total value of $73,866.00. Following the completion of the transaction, the chief executive officer owned 1,804,103 shares in the company, valued at $2,164,923.60. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 46.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneMedNet

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Exencial Wealth Advisors LLC lifted its position in shares of OneMedNet by 1.3% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,644,861 shares of the company’s stock worth $4,009,000 after purchasing an additional 45,401 shares during the last quarter. Correct Capital Wealth Management purchased a new stake in OneMedNet during the 3rd quarter worth about $4,910,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in OneMedNet during the 3rd quarter worth about $25,000. 0.95% of the stock is currently owned by institutional investors and hedge funds.

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.