OneMedNet Corp. (NASDAQ: ONMD): Unlocking Growth Opportunity

OneMedNet Corp. (NASDAQ:ONMD) shares, rose in value, with the stock price up by 34.13% to the previous day’s close as strong demand from buyers drove the stock to $1.06.

Actively observing the price movement in the last trading, the stock closed the session at $0.79. Referring to stock’s 52-week performance, its high was $13.51, and the low was $0.42. On the whole, ONMD has fluctuated by 41.73% over the past month.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ONMD’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ONMD currently trading nearly 34.58% and 19.98% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.28, while the 7-day volatility ratio is showing 13.20% which for the 30-day chart, stands at 13.70%. Furthermore, OneMedNet Corp. (ONMD)’s beta value is -0.57, and its average true range (ATR) is 0.14.

A comparison of OneMedNet Corp. (ONMD) with its peers suggests the former has fared considerably weaker in the market. ONMD showed an intraday change of 34.13% in last session, and over the past year, it shrunk by -89.78%%.

Data on historical trading for OneMedNet Corp. (NASDAQ:ONMD) indicates that the trading volumes over the past 10 days have averaged 1.7 million and over the past 3 months, they’ve averaged 2.48 million. According to company’s latest data on outstanding shares, there are 32.26 million shares outstanding.

Nearly 36.77% of OneMedNet Corp.’s shares belong to company insiders and institutional investors own 0.98% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.19 million shares as on Mar 15, 2024, resulting in a short ratio of 0.06. According to the data, the short interest in OneMedNet Corp. (ONMD) stood at 0.27% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 47530.0. The stock has risen by 30.86% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ONMD stock heading into the next quarter.