OneMedNet Corporation (NASDAQ:ONMD) Short Interest Update

OneMedNet Corporation (NASDAQ:ONMD) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 1,816,220 shares, a growth of 425.7% from the July 15th total of 345,502 shares. Based on an average daily trading volume, of 3,840,358 shares, the days-to-cover ratio is currently 0.5 days. Currently, 5.9% of the company’s shares are sold short.

Insider Buying and Selling at OneMedNet

In other news, Director Thomas Kosasa bought 1,449,275 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average cost of $0.69 per share, for a total transaction of $999,999.75. Following the acquisition, the director directly owned 18,538,150 shares of the company’s stock, valued at $12,791,323.50. The trade was a 8.48% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Yu bought 158,730 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average price of $0.63 per share, with a total value of $99,999.90. Following the completion of the acquisition, the insider directly owned 8,780,410 shares in the company, valued at $5,531,658.30. This trade represents a 1.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 2,300,238 shares of company stock worth $1,601,664 in the last quarter. Company insiders own 46.20% of the company’s stock.

Hedge Funds Weigh In On OneMedNet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Exencial Wealth Advisors LLC raised its holdings in OneMedNet by 1.3% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,644,861 shares of the company’s stock valued at $4,009,000 after acquiring an additional 45,401 shares in the last quarter. HRT Financial LP acquired a new position in OneMedNet during the 4th quarter worth approximately $32,000. Jane Street Group LLC acquired a new position in OneMedNet during the 4th quarter worth approximately $119,000. State Street Corp increased its position 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 purchasing an additional 34,200 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of OneMedNet in the 4th quarter valued at approximately $48,000. 0.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONMD has been the topic of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of OneMedNet in a research 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, According to data from MarketBeat.com, OneMedNet has an average rating of “Sell”.

OneMedNet Price Performance

Shares of NASDAQ ONMD traded down $0.03 during mid-day trading on Wednesday, hitting $0.71. The company had a trading volume of 212,132 shares, compared to its average volume of 2,203,407. The company has a market capitalization of $40.72 million, a PE ratio of -14.30 and a beta of 1.14. The business’s 50-day simple moving average is $0.66 and its 200 day simple moving average is $0.77. OneMedNet has a 1-year low of $0.45 and a 1-year high of $4.22.

OneMedNet (NASDAQ:ONMD) last released its earnings results on Friday, May 15th. The company reported ($0.04) EPS for the quarter. The company had revenue of $0.10 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.