OneMedNet Corporation (NASDAQ:ONMD) Short Interest Update

OneMedNet Corporation (NASDAQ:ONMD) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 619,780 shares, a drop of 18.1% from the March 31st total of 757,167 shares. Based on an average daily volume of 314,216 shares, the short-interest ratio is presently 2.0 days. Currently, 2.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of OneMedNet in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Insiders Place Their Bets

In other news, Director Thomas Kosasa purchased 280,898 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were acquired at an average price of $0.89 per share, with a total value of $249,999.22. Following the transaction, the director owned 16,661,327 shares of the company’s stock, valued at $14,828,581.03. This represents a 1.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Yu purchased 903,614 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were purchased at an average cost of $0.83 per share, for a total transaction of $749,999.62. Following the transaction, the insider directly owned 8,229,837 shares in the company, valued at approximately $6,830,764.71. This represents a 12.33% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 1,779,750 shares of company stock worth $1,499,999. Insiders own 46.20% of the company’s stock.

Institutional Investors Weigh In On OneMedNet

Institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in OneMedNet during the third quarter valued at about $25,000. HRT Financial LP bought a new stake in OneMedNet during the fourth quarter valued at about $32,000. Virtu Financial LLC bought a new stake in OneMedNet during the fourth quarter valued at about $48,000. Jane Street Group LLC bought a new stake in OneMedNet during the fourth quarter valued at about $119,000. Finally, State Street Corp boosted its position in OneMedNet by 41.5% during the fourth quarter. State Street Corp now owns 116,700 shares of the company’s stock valued at $128,000 after purchasing an additional 34,200 shares in the last quarter. Institutional investors own 0.95% of the company’s stock.

OneMedNet Trading Down 7.9%

Shares of ONMD traded down $0.08 during midday trading on Friday, reaching $1.00. 753,729 shares of the stock were exchanged, compared to its average volume of 950,257. OneMedNet has a 52 week low of $0.31 and a 52 week high of $4.22. The company’s 50 day moving average is $0.84 and its two-hundred day moving average is $1.21. The company has a market capitalization of $51.95 million, a P/E ratio of -14.22 and a beta of 1.25.

OneMedNet (NASDAQ:ONMD) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $0.89 million during the quarter.

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.