Short Interest in OneMedNet Corporation (NASDAQ:ONMD) Decreases By 54.2%

OneMedNet Corporation (NASDAQ:ONMD) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 232,816 shares, a decline of 54.2% from the June 15th total of 508,235 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 501,081 shares, the short-interest ratio is presently 0.5 days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of OneMedNet from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of OneMedNet in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

OneMedNet Trading Down 9.3%

NASDAQ:ONMD traded down $0.07 during midday trading on Thursday, hitting $0.69. 260,882 shares of the stock were exchanged, compared to its average volume of 2,119,643. OneMedNet has a one year low of $0.44 and a one year high of $4.22. The company has a market capitalization of $39.01 million, a price-to-earnings ratio of -13.56 and a beta of 1.14. The business has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $0.83.

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

Insider Buying and Selling

In other OneMedNet news, Director Thomas Kosasa bought 280,898 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average cost of $0.89 per share, for a total transaction of $249,999.22. Following the transaction, the director directly owned 16,661,327 shares in the company, valued at $14,828,581.03. The trade was a 1.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Yu bought 172,414 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were acquired at an average cost of $0.58 per share, for a total transaction of $100,000.12. Following the purchase, the insider directly owned 8,621,680 shares in the company, valued at $5,000,574.40. This represents a 2.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 1,131,861 shares of company stock valued at $851,664 over the last three months. Corporate insiders own 46.20% of the company’s stock.

Institutional Trading of OneMedNet

Several institutional investors have recently modified their holdings of the company. HRT Financial LP acquired a new position in OneMedNet during the fourth quarter worth about $32,000. Virtu Financial LLC bought a new stake in OneMedNet in the fourth quarter worth about $48,000. Jane Street Group LLC acquired a new stake in OneMedNet in the 4th quarter valued at about $119,000. State Street Corp lifted its holdings in 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 acquiring an additional 34,200 shares during the last quarter. Finally, Exencial Wealth Advisors LLC boosted its position in shares of OneMedNet by 1.3% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,644,861 shares of the company’s stock valued at $4,009,000 after purchasing an additional 45,401 shares in the last quarter. Institutional investors and hedge funds 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. OneMedNet Corporation is based in Eden Prairie, Minnesota.