OneMedNet Corporation (NASDAQ:ONMD – Get Free Report) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 1,816,220 shares, an increase of 425.7% from the July 15th total of 345,502 shares. Approximately 5.9% of the company’s shares are short sold. Based on an average trading volume of 3,840,358 shares, the short-interest ratio is currently 0.5 days.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Wall Street Zen downgraded OneMedNet from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of OneMedNet in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.
Read Our Latest Report on OneMedNet
OneMedNet Stock Performance
OneMedNet (NASDAQ:ONMD – Get Free Report) last announced its quarterly 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 for the quarter.
Insider Activity
In related news, insider Jeffrey Yu purchased 172,414 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average price of $0.58 per share, with a total value of $100,000.12. Following the completion of the transaction, the insider owned 8,621,680 shares of the company’s stock, valued at approximately $5,000,574.40. This trade represents a 2.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Kosasa purchased 1,449,275 shares of the business’s 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 purchase, the director owned 18,538,150 shares of the company’s stock, valued at $12,791,323.50. This trade represents a 8.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 2,300,238 shares of company stock worth $1,601,664. Insiders own 46.20% of the company’s stock.
Institutional Trading of OneMedNet
A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in OneMedNet in the 4th quarter valued at $48,000. State Street Corp lifted its stake in shares of 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 purchasing an additional 34,200 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of OneMedNet during the fourth quarter worth about $119,000. HRT Financial LP acquired a new position in shares of OneMedNet during the fourth quarter worth about $32,000. Finally, Exencial Wealth Advisors LLC boosted its position 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 worth $4,009,000 after buying an additional 45,401 shares during the period. 0.95% of the stock is owned by hedge funds and other institutional investors.
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.
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