Short Interest in OneMedNet Corporation (NASDAQ:ONMD) Decreases By 60.3%

OneMedNet Corporation (NASDAQ:ONMD) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 721,823 shares, a decrease of 60.3% from the July 30th total of 1,816,220 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 666,106 shares, the days-to-cover ratio is presently 1.1 days.

Insider Activity

In other OneMedNet news, insider Jeffrey Yu acquired 172,414 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average price of $0.58 per share, with a total value of $100,000.12. Following the completion of the acquisition, the insider owned 8,621,680 shares in the company, valued at $5,000,574.40. This represents a 2.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Kosasa purchased 1,449,275 shares of OneMedNet stock in a transaction on Thursday, July 30th. The stock was bought at an average price of $0.69 per share, with a total value of $999,999.75. Following the transaction, the director owned 18,538,150 shares of the company’s stock, valued at approximately $12,791,323.50. This represents a 8.48% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 2,031,421 shares of company stock worth $1,351,664 over the last three months. Insiders own 50.20% of the company’s stock.

Institutional Trading of OneMedNet

A number of institutional investors have recently made changes to their positions in the business. HRT Financial LP acquired a new position in OneMedNet during the 4th quarter valued at approximately $32,000. State Street Corp raised its stake in shares of OneMedNet by 41.5% in the fourth quarter. State Street Corp now owns 116,700 shares of the company’s stock worth $128,000 after purchasing an additional 34,200 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of OneMedNet during the fourth quarter worth about $48,000. Finally, Jane Street Group LLC purchased a new stake in OneMedNet in the fourth quarter valued at approximately $119,000. Institutional investors and hedge funds own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ONMD. Weiss Ratings raised shares of OneMedNet from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Wall Street Zen downgraded shares of OneMedNet from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

OneMedNet Stock Performance

Shares of OneMedNet stock opened at $0.59 on Friday. OneMedNet has a one year low of $0.49 and a one year high of $4.22. The stock has a market cap of $34.69 million, a price-to-earnings ratio of -3.66 and a beta of 1.14. The stock has a 50 day moving average price of $0.67 and a 200-day moving average price of $0.76.

OneMedNet (NASDAQ:ONMD) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $0.29 million during the quarter.

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.