OneMedNet (NASDAQ:ONMD) Stock Price Down 11.4% – Time to Sell?

Shares of OneMedNet Corporation (NASDAQ:ONMD) dropped 11.4% during mid-day trading on Tuesday . The company traded as low as $2.49 and last traded at $2.49. Approximately 624,185 shares changed hands during trading, a decline of 96% from the average daily volume of 17,510,012 shares. The stock had previously closed at $2.81.

Wall Street Analysts Forecast Growth

ONMD has been the topic of a number of research analyst reports. Wall Street Zen raised shares of OneMedNet to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of OneMedNet in a research report on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, OneMedNet presently has a consensus rating of “Sell”.

OneMedNet Stock Performance

The stock has a market cap of $122.36 million, a PE ratio of -22.64 and a beta of 0.99. The company’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $0.76.

OneMedNet (NASDAQ:ONMD) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.03) EPS for the quarter. The business had revenue of $0.16 million for the quarter.

Institutional Investors Weigh In On OneMedNet

A hedge fund recently raised its stake in OneMedNet stock. Exencial Wealth Advisors LLC raised its position in OneMedNet Corporation (NASDAQ:ONMD) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,491,862 shares of the company’s stock after buying an additional 45,448 shares during the period. Exencial Wealth Advisors LLC owned 4.73% of OneMedNet worth $851,000 as of its most recent filing with the SEC. Institutional investors own 0.95% of the company’s stock.

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.