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

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

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 12,182 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $2.37, for a total transaction of $28,871.34. Following the sale, the insider directly owned 1,511,988 shares of the company’s stock, valued at approximately $3,583,411.56. This represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings Ltd Falconx sold 239,588 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $1.97, for a total value of $471,988.36. 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 over the last quarter. Company insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On Sharps Technology

A number of hedge funds have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC acquired a new position in shares of Sharps Technology during the third quarter worth approximately $9,404,000. Pantera Capital Partners LP bought a new stake in Sharps Technology during the 3rd quarter valued at $7,498,000. Arrington Capital Management LLC acquired a new position in Sharps Technology during the 4th quarter worth $1,874,000. HBK Investments L P acquired a new position in Sharps Technology during the 4th quarter worth $1,448,000. Finally, Feynman Point Asset Management LLC bought a new position in shares of Sharps Technology in the fourth quarter worth $1,121,000. Institutional investors own 17.17% of the company’s stock.

Sharps Technology Stock Performance

Sharps Technology stock opened at $1.78 on Wednesday. Sharps Technology has a one year low of $1.42 and a one year high of $211.20. The company has a 50-day simple moving average of $2.00 and a 200-day simple moving average of $4.43. The firm has a market capitalization of $51.62 million, a P/E ratio of 0.00 and a beta of 2.21.

Wall Street Analysts Forecast Growth

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