Holdings Ltd Falconx Sells 529,732 Shares of Sharps Technology (NASDAQ:STSS) Stock

Sharps Technology, Inc. (NASDAQ:STSS) major shareholder Holdings Ltd Falconx sold 529,732 shares of the business’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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings Ltd Falconx also recently made the following trade(s):

• On Monday, January 12th, Holdings Ltd Falconx sold 239,588 shares of Sharps Technology stock. The stock was sold at an average price of $1.97, for a total transaction of $471,988.36.

Sharps Technology Trading Up 6.7%

Shares of STSS stock opened at $1.76 on Friday. Sharps Technology, Inc. has a 12-month low of $1.42 and a 12-month high of $211.20. The business’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $4.71. The company has a market cap of $51.04 million, a PE ratio of 0.00 and a beta of 2.20.

Sharps Technology (NASDAQ:STSS) last announced its earnings results on Friday, November 14th. The company reported ($4.02) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($3.01). The company had revenue of $2.29 million during the quarter, compared to analysts’ expectations of $0.35 million.

Wall Street Analyst Weigh In

Several equities analysts recently commented on STSS shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sharps Technology in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Sharps Technology from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STSS. Aristides Capital LLC purchased a new stake in Sharps Technology in the fourth quarter valued at $25,000. Bank of America Corp DE lifted its holdings in shares of 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 valued at $52,000 after buying an additional 7,906 shares during the period. T3 Companies LLC purchased a new stake in shares of Sharps Technology in the fourth quarter worth about $68,000. Geode Capital Management LLC boosted its stake 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 worth $569,000 after buying an additional 268,928 shares during the last quarter. Finally, Pantera Capital Partners LP acquired a new stake in Sharps Technology during the third quarter worth about $7,498,000. Hedge funds and other institutional investors own 17.17% of the company’s stock.

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.