OneMedNet Corporation (NASDAQ:ONMD) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 18.1% in April to 619,780 shares (about 2.2% of shares sold short), with a days-to-cover ratio of roughly 2.0 days based on average volume.
• Significant insider buying occurred recently—Jeffrey Yu bought 903,614 shares and Director Thomas Kosasa bought 280,898 shares, contributing to insiders acquiring 1,779,750 shares (~$1.5M) over 90 days and now owning 46.20% of the company.
• OneMedNet trades near $1.08 (52-week range $0.31–$4.22), reported Q1 EPS of ($0.07) on $0.89M revenue, and carries an average analyst rating of "Sell".

OneMedNet Corporation (NASDAQ:ONMD - Get Free Report) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 619,780 shares, a decrease of 18.1% from the March 31st total of 757,167 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average trading volume of 314,216 shares, the days-to-cover ratio is presently 2.0 days.

Insider Transactions at OneMedNet

In other news, insider Jeffrey Yu acquired 903,614 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were acquired at an average cost of $0.83 per share, for a total transaction of $749,999.62. Following the purchase, the insider owned 8,229,837 shares of the company's stock, valued at approximately $6,830,764.71. The trade was a 12.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Kosasa acquired 280,898 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was purchased at an average price of $0.89 per share, for a total transaction of $249,999.22. Following the completion of the purchase, the director directly owned 16,661,327 shares in the company, valued at $14,828,581.03. This trade represents a 1.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 1,779,750 shares of company stock worth $1,499,999 over the last 90 days. 46.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ONMD. Ashton Thomas Private Wealth LLC bought a new position in OneMedNet in the 3rd quarter worth about $25,000. HRT Financial LP bought a new stake in shares of OneMedNet during the 4th quarter valued at about $32,000. Virtu Financial LLC bought a new stake in shares of OneMedNet during the 4th quarter valued at about $48,000. Jane Street Group LLC bought a new stake in shares of OneMedNet during the 4th quarter valued at about $119,000. Finally, State Street Corp boosted its position in shares of OneMedNet by 41.5% during the 4th quarter. State Street Corp now owns 116,700 shares of the company's stock valued at $128,000 after acquiring an additional 34,200 shares during the last quarter. Institutional investors own 0.95% of the company's stock.

OneMedNet Price Performance

NASDAQ ONMD remained flat at $1.08 during trading hours on Thursday. The company's stock had a trading volume of 552,457 shares, compared to its average volume of 929,720. OneMedNet has a fifty-two week low of $0.31 and a fifty-two week high of $4.22. The company's 50 day moving average is $0.84 and its 200 day moving average is $1.21.

OneMedNet (NASDAQ:ONMD - Get Free Report) last issued its earnings results on Monday, March 30th. The company reported ($0.07) EPS for the quarter. The business had revenue of $0.89 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of OneMedNet in a research note on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of "Sell".

About OneMedNet

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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