Short Interest in OneMedNet Corporation (NASDAQ:ONMD) Drops By 68.2%

OneMedNet Corporation (NASDAQ:ONMD) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 134,674 shares, a decline of 68.2% from the December 15th total of 423,841 shares. Based on an average trading volume of 484,008 shares, the short-interest ratio is presently 0.3 days. Currently, 0.5% of the shares of the company are sold short. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 484,008 shares, the short-interest ratio is presently 0.3 days.

OneMedNet Stock Performance

Shares of OneMedNet stock opened at $1.18 on Tuesday. The firm has a 50-day simple moving average of $1.40 and a two-hundred day simple moving average of $1.22. OneMedNet has a fifty-two week low of $0.30 and a fifty-two week high of $4.22. The company has a market cap of $60.19 million, a P/E ratio of -23.60 and a beta of 1.15.

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

Insider Buying and Selling at OneMedNet

In other OneMedNet news, Director Eric Casaburi acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were acquired at an average cost of $3.05 per share, with a total value of $30,500.00. Following the acquisition, the director directly owned 65,475 shares of the company’s stock, valued at approximately $199,698.75. The trade was a 18.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Aaron Green sold 61,555 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $1.20, for a total transaction of $73,866.00. Following the transaction, the chief executive officer directly owned 1,804,103 shares of the company’s stock, valued at approximately $2,164,923.60. This trade represents a 3.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 46.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ONMD. Ashton Thomas Private Wealth LLC purchased a new position in shares of OneMedNet during the 3rd quarter valued at approximately $25,000. Exencial Wealth Advisors LLC raised its position in OneMedNet by 3.1% during the second quarter. Exencial Wealth Advisors LLC now owns 1,491,862 shares of the company’s stock worth $851,000 after acquiring an additional 45,448 shares during the period. Finally, Correct Capital Wealth Management purchased a new position in OneMedNet during the third quarter valued at $4,910,000. 0.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on ONMD. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneMedNet in a research note on Friday. Wall Street Zen upgraded OneMedNet to a “hold” rating in a research report on Friday, September 26th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus 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.