OneMedNet (NASDAQ:ONMD) Shares Down 6.4% – Here’s Why

Shares of OneMedNet Co. (NASDAQ:ONMD) traded down 6.4% during mid-day trading on Tuesday . The company traded as low as $1.30 and last traded at $1.32. 161,325 shares were traded during mid-day trading, an increase of 50% from the average session volume of 107,756 shares. The stock had previously closed at $1.41.

OneMedNet Price Performance

The company’s 50 day simple moving average is $1.02 and its 200 day simple moving average is $0.95.

OneMedNet (NASDAQ:ONMD) last issued its quarterly earnings results on Tuesday, December 17th. The company reported ($0.08) EPS for the quarter.

Hedge Funds Weigh In On OneMedNet

An institutional investor recently raised its position in OneMedNet stock. XTX Topco Ltd raised its stake in OneMedNet Co. (NASDAQ:ONMD) by 280.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,683 shares of the company’s stock after acquiring an additional 30,723 shares during the quarter. XTX Topco Ltd owned approximately 0.15% of OneMedNet worth $25,000 as of its most recent filing with the Securities & Exchange Commission. 0.95% of the stock is currently owned by institutional investors and hedge funds.

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.