Sharps Technology, Inc. (NASDAQ:STSS) Short Interest Update

Sharps Technology, Inc. (NASDAQ:STSS) was the recipient of a large decrease in short interest in February. As of February 13th, there was short interest totaling 516,282 shares, a decrease of 14.2% from the January 29th total of 601,711 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 563,089 shares, the short-interest ratio is presently 0.9 days. Based on an average daily trading volume, of 563,089 shares, the short-interest ratio is presently 0.9 days. Currently, 1.8% of the shares of the stock are sold short.

Sharps Technology Price Performance

Shares of Sharps Technology stock opened at $1.78 on Wednesday. The stock has a market cap of $51.62 million, a PE ratio of 0.00 and a beta of 2.21. The business has a fifty day simple moving average of $2.00 and a 200-day simple moving average of $4.43. Sharps Technology has a 12 month low of $1.42 and a 12 month high of $211.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on STSS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sharps Technology in a research report on Thursday, January 22nd. Wall Street Zen downgraded Sharps Technology from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Insider Transactions at Sharps Technology

In other Sharps Technology news, major shareholder Saba Capital Management, L.P. sold 77,688 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $2.25, for a total transaction of $174,798.00. Following the transaction, the insider owned 1,549,170 shares of the company’s stock, valued at approximately $3,485,632.50. This trade represents a 4.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings Ltd Falconx sold 529,732 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $1.93, for a total transaction of $1,022,382.76. Following the completion of the sale, the insider directly owned 47,281 shares of the company’s stock, valued at approximately $91,252.33. This represents a 91.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 913,967 shares of company stock valued at $1,820,752 in the last quarter. 1.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sharps Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Aristides Capital LLC purchased a new stake in shares of Sharps Technology in the fourth quarter worth approximately $25,000. Price T Rowe Associates Inc. MD acquired a new position in Sharps Technology in the 4th quarter valued at approximately $43,000. Bank of America Corp DE lifted its position in Sharps Technology by 98,825.0% in the 3rd quarter. Bank of America Corp DE now owns 7,914 shares of the company’s stock worth $52,000 after buying an additional 7,906 shares in the last quarter. T3 Companies LLC purchased a new stake in Sharps Technology in the 4th quarter worth approximately $68,000. Finally, Saba Capital Management L.P. acquired a new stake in shares of Sharps Technology during the 4th quarter valued at $412,000. Hedge funds and other institutional investors own 17.17% of the company’s stock.

About Sharps Technology

Sharps Technology (NASDAQ:STSS) is an insurtech company specializing in technology-enabled subrogation recovery services for property and casualty insurers. The company’s flagship platform combines process automation, data analytics and digital workflow tools to help carriers and third-party administrators identify, manage and recover funds from liable third parties. By streamlining the subrogation lifecycle—from claim intake through recovery—Sharps delivers greater transparency, faster turnaround times and improved recovery rates for its clients.

Since its initial public offering in late 2021, Sharps Technology has focused on expanding its presence across the United States.