OneMedNet (NASDAQ:ONMD) Releases Quarterly Earnings Results

OneMedNet (NASDAQ:ONMD) posted its quarterly earnings data on Friday. The company reported ($0.04) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $0.29 million during the quarter.

OneMedNet Trading Up 0.5%

Shares of NASDAQ ONMD traded up $0.00 during mid-day trading on Friday, hitting $0.78. The company had a trading volume of 362,195 shares, compared to its average volume of 2,180,169. The company has a market capitalization of $44.49 million, a PE ratio of -15.62 and a beta of 1.14. The firm has a 50-day simple moving average of $0.66 and a two-hundred day simple moving average of $0.77. OneMedNet has a one year low of $0.49 and a one year high of $4.22.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ONMD shares. Weiss Ratings restated a “sell (e+)” rating on shares of OneMedNet in a research note on Monday, June 1st. Wall Street Zen downgraded shares of OneMedNet from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Insider Activity

In related news, insider Jeffrey Yu purchased 158,730 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $0.63 per share, for a total transaction of $99,999.90. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Kosasa purchased 1,449,275 shares of the stock in a transaction on Thursday, July 30th. The shares were bought at an average cost of $0.69 per share, for a total transaction of $999,999.75. Following the transaction, the director directly owned 18,538,150 shares in the company, valued at approximately $12,791,323.50. The trade was a 8.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 2,300,238 shares of company stock worth $1,601,664 in the last quarter. 46.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OneMedNet

Several large investors have recently made changes to their positions in ONMD. Exencial Wealth Advisors LLC grew its stake in shares of 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 buying an additional 45,401 shares in the last quarter. HRT Financial LP bought a new stake in OneMedNet during the fourth quarter worth $32,000. Jane Street Group LLC bought a new stake in OneMedNet during the fourth quarter worth $119,000. State Street Corp raised its position in OneMedNet by 41.5% during the fourth quarter. State Street Corp now owns 116,700 shares of the company’s stock worth $128,000 after acquiring an additional 34,200 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in OneMedNet in the fourth quarter valued at $48,000. Institutional investors and hedge funds own 0.95% of the company’s stock.

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.