Short Interest in OneMedNet Corporation (NASDAQ:ONMD) Increases By 93.6%

OneMedNet Corporation (NASDAQ:ONMD) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 423,841 shares, a growth of 93.6% from the November 30th total of 218,963 shares. Based on an average daily trading volume, of 763,417 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.5% of the company’s stock are short sold. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 763,417 shares, the days-to-cover ratio is presently 0.6 days.

OneMedNet Stock Performance

OneMedNet stock traded down $0.06 during trading hours on Friday, reaching $1.27. The stock had a trading volume of 505,833 shares, compared to its average volume of 2,268,701. The business’s 50 day moving average price is $1.66 and its 200-day moving average price is $1.16. OneMedNet has a 52 week low of $0.30 and a 52 week high of $4.22.

OneMedNet (NASDAQ:ONMD) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $0.18 million for the quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ONMD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OneMedNet in a research report on Tuesday, October 14th. Wall Street Zen raised shares of OneMedNet to a “hold” rating in a research note on Friday, September 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, OneMedNet currently has an average rating of “Sell”.

Insiders Place Their Bets

In other news, Director Eric Casaburi acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was purchased at an average cost of $3.05 per share, for a total transaction of $30,500.00. Following the completion of the acquisition, the director directly owned 65,475 shares of the company’s stock, valued at $199,698.75. The trade was a 18.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Aaron Green sold 64,767 shares of the stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $2.23, for a total transaction of $144,430.41. Following the transaction, the chief executive officer owned 1,865,658 shares in the company, valued at approximately $4,160,417.34. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 46.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OneMedNet

Large investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of OneMedNet during the 3rd quarter valued at $25,000. Exencial Wealth Advisors LLC increased its position in OneMedNet by 3.1% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 1,491,862 shares of the company’s stock valued at $851,000 after buying an additional 45,448 shares in the last quarter. Finally, Correct Capital Wealth Management acquired a new position in OneMedNet during the 3rd quarter valued at about $4,910,000. 0.95% of the stock is owned by institutional investors and hedge funds.

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.