OneMedNet (NASDAQ:ONMD) Posts Earnings Results

OneMedNet (NASDAQ:ONMD) announced its earnings results on Friday. The company reported ($0.04) EPS for the quarter, FiscalAI reports. The business had revenue of $0.29 million during the quarter.

OneMedNet Trading Up 0.5%

NASDAQ ONMD traded up $0.00 during trading hours on Friday, reaching $0.78. The company had a trading volume of 362,195 shares, compared to its average volume of 2,676,471. The stock has a market capitalization of $44.49 million, a P/E ratio of -15.62 and a beta of 1.14. The stock has a 50-day moving average of $0.67 and a 200 day moving average of $0.77. OneMedNet has a 1-year low of $0.49 and a 1-year high of $4.22.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ONMD. Weiss Ratings restated a “sell (e+)” rating on shares of OneMedNet in a report on Monday, June 1st. Wall Street Zen downgraded 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, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Insider Buying and Selling

In related news, Director Thomas Kosasa acquired 1,449,275 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were purchased at an average cost of $0.69 per share, for a total transaction of $999,999.75. Following the acquisition, the director owned 18,538,150 shares in the company, valued at $12,791,323.50. The trade was a 8.48% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Yu acquired 158,730 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $0.63 per share, for a total transaction of $99,999.90. Following the completion of the acquisition, the insider owned 8,780,410 shares in the company, valued at approximately $5,531,658.30. The trade was a 1.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 2,300,238 shares of company stock worth $1,601,664 over the last three months. Insiders own 46.20% of the company’s stock.

Hedge Funds Weigh In On OneMedNet

Several institutional investors have recently bought and sold shares of the company. Exencial Wealth Advisors LLC increased its position 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 acquiring an additional 45,401 shares during the period. State Street Corp boosted its stake in shares of 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 buying an additional 34,200 shares during the period. Jane Street Group LLC purchased a new position in shares of OneMedNet in the 4th quarter valued at about $119,000. Virtu Financial LLC acquired a new position in shares of OneMedNet during the fourth quarter worth about $48,000. Finally, HRT Financial LP purchased a new stake in shares of OneMedNet during the fourth quarter worth approximately $32,000. 0.95% of the stock is 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.