Sharps Technology (NASDAQ:STSS) Major Shareholder Sells $471,988.36 in Stock

Sharps Technology, Inc. (NASDAQ:STSS) major shareholder Holdings Ltd Falconx sold 239,588 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $1.97, for a total value of $471,988.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, January 9th, Holdings Ltd Falconx sold 529,732 shares of Sharps Technology stock. The shares were sold at an average price of $1.93, for a total value of $1,022,382.76.

Sharps Technology Trading Up 6.7%

STSS opened at $1.76 on Monday. Sharps Technology, Inc. has a 12-month low of $1.42 and a 12-month high of $211.20. The company has a market cap of $51.04 million, a price-to-earnings ratio of 0.00 and a beta of 2.20. The stock has a fifty day simple moving average of $2.14 and a two-hundred day simple moving average of $4.71.

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

Institutional Investors Weigh In On Sharps Technology

Several institutional investors and hedge funds have recently made changes to their positions in STSS. Bank of America Corp DE raised its holdings 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 acquiring an additional 7,906 shares during the last quarter. Aristides Capital LLC bought a new stake in shares of Sharps Technology in the 4th quarter worth $25,000. T3 Companies LLC purchased a new position in shares of Sharps Technology in the fourth quarter worth $68,000. Geode Capital Management LLC raised 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 purchasing an additional 268,928 shares during the last quarter. Finally, Pantera Capital Partners LP bought a new position in shares of Sharps Technology during the third quarter valued at $7,498,000. Institutional investors own 17.17% of the company’s stock.

Wall Street Analyst Weigh In

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