OneMedNet (NASDAQ:ONMD) Shares Up 5.7% – Should You Buy?

OneMedNet Corporation (NASDAQ:ONMD)’s share price rose 5.7% during mid-day trading on Monday . The company traded as high as $0.7993 and last traded at $0.7993. Approximately 206,977 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 11,778,810 shares. The stock had previously closed at $0.7564.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OneMedNet in a research report on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, OneMedNet presently has an average rating of “Sell”.

OneMedNet Price Performance

The company has a market capitalization of $44.15 million, a price-to-earnings ratio of -17.31 and a beta of 1.08. The business’s 50-day moving average price is $0.77 and its two-hundred day moving average price is $1.27.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ONMD. Correct Capital Wealth Management acquired a new position in shares of OneMedNet during the third quarter worth $4,910,000. Exencial Wealth Advisors LLC raised its position in OneMedNet by 141.3% during the 3rd quarter. Exencial Wealth Advisors LLC now owns 3,599,460 shares of the company’s stock worth $3,923,000 after purchasing an additional 2,107,598 shares during the last quarter. Jane Street Group LLC acquired a new position in OneMedNet during the 4th quarter worth about $119,000. Virtu Financial LLC acquired a new position in OneMedNet during the 4th quarter worth about $48,000. Finally, State Street Corp grew its position in shares of OneMedNet by 41.5% in the 4th quarter. State Street Corp now owns 116,700 shares of the company’s stock valued at $128,000 after buying an additional 34,200 shares during the last quarter. 0.95% of the stock is owned by 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.