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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of OneMedNet in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of OneMedNet to a “hold” rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

OneMedNet Trading Down 11.4%

The company’s fifty day moving average is $1.31 and its 200 day moving average is $0.76. The company has a market capitalization of $122.36 million, a P/E ratio of -22.64 and a beta of 0.99.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in OneMedNet stock. Exencial Wealth Advisors LLC increased its holdings in OneMedNet Corporation (NASDAQ:ONMD) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 SEC filing. 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.