Sharps Technology (NASDAQ:STSS) Upgraded at Wall Street Zen

Sharps Technology (NASDAQ:STSS) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sharps Technology in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Sharps Technology presently has an average rating of “Sell”.

Sharps Technology Stock Performance

NASDAQ STSS opened at $1.51 on Friday. The firm has a 50-day moving average of $1.79 and a 200-day moving average of $3.20. The stock has a market cap of $43.78 million, a PE ratio of 0.00 and a beta of 2.08. Sharps Technology has a 52-week low of $1.42 and a 52-week high of $18.23.

Insiders Place Their Bets

In other news, major shareholder Holdings Ltd Falconx sold 529,732 shares of Sharps Technology stock in a transaction 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 owned 47,281 shares of the company’s stock, valued at approximately $91,252.33. This trade represents a 91.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 77,688 shares of the business’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 completion of the sale, the insider directly owned 1,549,170 shares of the company’s stock, valued at approximately $3,485,632.50. The trade was a 4.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 913,967 shares of company stock worth $1,820,752. Insiders own 1.22% of the company’s stock.

Hedge Funds Weigh In On Sharps Technology

A number of hedge funds have recently bought and sold shares of STSS. T3 Companies LLC acquired a new stake in Sharps Technology in the 4th quarter worth about $68,000. Aristides Capital LLC acquired a new position in shares of Sharps Technology during the 4th quarter worth approximately $25,000. Saba Capital Management L.P. bought a new position in shares of Sharps Technology during the fourth quarter worth approximately $412,000. Geode Capital Management LLC raised its position in shares of Sharps Technology by 2,349.9% in the fourth quarter. Geode Capital Management LLC now owns 280,372 shares of the company’s stock valued at $569,000 after buying an additional 268,928 shares in the last quarter. Finally, HBK Investments L P acquired a new stake in shares of Sharps Technology in the fourth quarter valued at approximately $1,448,000. 17.17% of the stock is owned by institutional investors.

Sharps Technology Company Profile

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.