OneMedNet Corporation (NASDAQ:ONMD) Shares Shorted: Short Interest Down 87.7% in September

OneMedNet Corporation (NASDAQ:ONMD) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 113,555 shares, a drop of 87.7% from the September 15th total of 922,431 shares. Based on an average trading volume of 94,253 shares, the days-to-cover ratio is currently 1.2 days. Approximately 3.8% of the shares of the company are sold short.

Insider Transactions at OneMedNet

In other news, Director Thomas Kosasa bought 144,927 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average cost of $6.90 per share, for a total transaction of $999,996.30. Following the completion of the purchase, the director owned 1,853,815 shares of the company’s stock, valued at $12,791,323.50. This trade represents a 8.48% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Green sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $7.39, for a total value of $36,950.00. Following the completion of the transaction, the chief executive officer directly owned 249,638 shares of the company’s stock, valued at approximately $1,844,824.82. This trade represents a 1.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 12,667 shares of company stock valued at $86,542. 50.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of OneMedNet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

OneMedNet Price Performance

Shares of ONMD traded down $0.52 during mid-day trading on Friday, reaching $4.30. The company had a trading volume of 24,653 shares, compared to its average volume of 69,105. The company has a market capitalization of $25.50 million, a P/E ratio of -2.69 and a beta of 1.14. OneMedNet has a twelve month low of $4.30 and a twelve month high of $42.20. The company’s 50-day moving average is $6.24 and its 200-day moving average is $7.32.

OneMedNet Company Profile

OneMedNet Corporation is a healthcare technology company that develops infrastructure for accessing, managing and analyzing medical data. Its platform is designed to help healthcare providers, researchers, life sciences companies and other authorized users work with clinical and medical-imaging information while keeping the underlying data within the organization that controls it.

The company’s technology uses a federated data model, allowing participating institutions to collaborate on data analysis without routinely transferring sensitive patient information to a centralized repository.