OneMedNet (NASDAQ:ONMD) Stock Price Down 1.8% – Time to Sell?

OneMedNet Corporation (NASDAQ:ONMD)’s stock price traded down 1.8% during trading on Thursday. The company traded as low as $4.72 and last traded at $4.82. Approximately 28,329 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 68,032 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

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

OneMedNet Price Performance

The company has a market cap of $25.50 million, a price-to-earnings ratio of -2.69 and a beta of 1.14. The business has a 50 day simple moving average of $6.24 and a 200 day simple moving average of $7.32.

Insider Buying and Selling

In related news, CEO Aaron Green sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $7.39, for a total transaction of $36,950.00. Following the transaction, the chief executive officer owned 249,638 shares in the company, valued at $1,844,824.82. This represents a 1.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Yu acquired 14,285 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $6.30 per share, for a total transaction of $89,995.50. Following the acquisition, the insider owned 892,326 shares in the company, valued at approximately $5,621,653.80. The trade was a 1.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 12,667 shares of company stock worth $86,542 in the last 90 days. Corporate insiders own 50.20% of the company’s stock.

OneMedNet Company Profile

OneMedNet Corporation is a healthcare technology company that develops infrastructure for accessing, managing and analyzing medical data. Its platform is designed to help healthcare providers, researchers, life sciences companies and other authorized users work with clinical and medical-imaging information while keeping the underlying data within the organization that controls it.

The company’s technology uses a federated data model, allowing participating institutions to collaborate on data analysis without routinely transferring sensitive patient information to a centralized repository.