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

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

Insiders Place Their Bets

In related 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings Ltd Falconx sold 529,732 shares of Sharps Technology stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $1.93, for a total value of $1,022,382.76. Following the transaction, the insider owned 47,281 shares of the company’s stock, valued at $91,252.33. This trade represents a 91.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 913,967 shares of company stock worth $1,820,752 over the last ninety days. Insiders own 1.22% of the company’s stock.

Hedge Funds Weigh In On Sharps Technology

Several large investors have recently modified their holdings of STSS. Bank of America Corp DE raised its position in shares of Sharps Technology by 98,825.0% in the third quarter. Bank of America Corp DE now owns 7,914 shares of the company’s stock valued at $52,000 after purchasing an additional 7,906 shares during the period. Aristides Capital LLC bought a new stake in Sharps Technology during the 4th quarter valued at $25,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Sharps Technology during the fourth quarter worth $43,000. T3 Companies LLC purchased a new position in shares of Sharps Technology in the fourth quarter valued at $68,000. Finally, Saba Capital Management L.P. purchased a new stake in Sharps Technology during the 4th quarter worth about $412,000. Hedge funds and other institutional investors own 17.17% of the company’s stock.

Sharps Technology Price Performance

Shares of NASDAQ STSS opened at $1.85 on Friday. The stock has a market capitalization of $53.65 million, a PE ratio of 0.00 and a beta of 2.21. Sharps Technology has a one year low of $1.42 and a one year high of $211.20. The business’s fifty day moving average price is $1.99 and its 200-day moving average price is $4.39.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STSS. Wall Street Zen lowered Sharps Technology from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Sharps Technology in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sharps Technology presently has an average rating of “Sell”.

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.