OneMedNet Corporation (NASDAQ:ONMD) Short Interest Down 60.3% in August

OneMedNet Corporation (NASDAQ:ONMD) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 721,823 shares, a decrease of 60.3% from the July 30th total of 1,816,220 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily volume of 666,106 shares, the short-interest ratio is presently 1.1 days.

Insider Buying and Selling at OneMedNet

In other news, Director Thomas Kosasa acquired 1,449,275 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were purchased 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 of the company’s stock, valued at approximately $12,791,323.50. This trade represents a 8.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey Yu bought 158,730 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $0.63 per share, with a total value of $99,999.90. Following 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 position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,031,421 shares of company stock worth $1,351,664 over the last 90 days. Insiders own 50.20% of the company’s stock.

Institutional Trading of OneMedNet

Several hedge funds have recently made changes to their positions in the business. HRT Financial LP bought a new position in shares of OneMedNet in the 4th quarter valued at about $32,000. State Street Corp increased its stake 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 during the last quarter. Virtu Financial LLC purchased a new stake in OneMedNet during the fourth quarter valued at approximately $48,000. Finally, Jane Street Group LLC bought a new stake in shares of OneMedNet in the 4th quarter valued at approximately $119,000. 0.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ONMD. Weiss Ratings upgraded shares of OneMedNet from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Wall Street Zen downgraded shares of OneMedNet from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

OneMedNet Stock Performance

Shares of ONMD traded down $0.01 during mid-day trading on Friday, hitting $0.58. 131,279 shares of the stock were exchanged, compared to its average volume of 540,221. The company has a market cap of $34.39 million, a PE ratio of -3.62 and a beta of 1.14. OneMedNet has a 52-week low of $0.49 and a 52-week high of $4.22. The firm has a 50-day moving average of $0.67 and a two-hundred day moving average of $0.75.

OneMedNet (NASDAQ:ONMD) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $0.29 million for 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.