OneMedNet (NASDAQ:ONMD) Stock Breaks Below 50 Day Moving Average – Here’s Why

OneMedNet Corporation (NASDAQ:ONMD) crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $5.41 and traded as low as $5.31. OneMedNet shares last traded at $5.37, with a volume of 12,165 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded OneMedNet from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has an average rating of “Sell”.

OneMedNet Stock Performance

The business’s fifty day moving average price is $5.41 and its two-hundred day moving average price is $7.02. The firm has a market capitalization of $31.84 million, a P/E ratio of -3.36 and a beta of 1.25.

Insider Activity at OneMedNet

In other news, insider Jeffrey Yu bought 45,126 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The stock was bought at an average price of $5.54 per share, with a total value of $249,998.04. Following the completion of the transaction, the insider directly owned 896,840 shares of the company’s stock, valued at approximately $4,968,493.60. The trade was a 5.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aaron Green sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $7.39, for a total transaction of $36,950.00. Following the completion of the sale, the chief executive officer owned 249,638 shares of the company’s stock, valued at approximately $1,844,824.82. This trade represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders bought 189,169 shares of company stock valued at $1,089,995 and sold 15,167 shares valued at $103,042. 50.20% of the stock is currently owned by corporate insiders.

About OneMedNet

OneMedNet Corporation (NASDAQ: ONMD) is a healthcare technology company focused on improving the access, exchange and use of medical imaging data. Its platform is designed to connect healthcare organizations, researchers, life sciences companies and other authorized users with clinical imaging datasets while supporting data privacy, security and governance requirements. OneMedNet’s technology uses a decentralized approach in which medical data can remain with the organization that originally collected it, rather than being transferred to a central repository.