Sharps Technology (NASDAQ:STSS) Posts Earnings Results

Sharps Technology (NASDAQ:STSS) posted its quarterly earnings results on Thursday. The company reported ($1.19) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $0.19 million during the quarter.

Sharps Technology Price Performance

Shares of Sharps Technology stock traded down $0.10 on Friday, hitting $1.91. The company had a trading volume of 33,489 shares, compared to its average volume of 515,019. The firm has a market capitalization of $73.67 million, a P/E ratio of 0.00 and a beta of 2.03. Sharps Technology has a twelve month low of $1.41 and a twelve month high of $18.23. The stock has a 50-day moving average of $1.79 and a 200-day moving average of $2.29.

Analysts Set New Price Targets

A number of brokerages have issued reports on STSS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sharps Technology in a report on Tuesday, April 21st. Wall Street Zen raised Sharps Technology from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of Sharps Technology

A number of institutional investors have recently made changes to their positions in STSS. Bank of America Corp DE increased 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 acquiring an additional 7,906 shares during the last quarter. Aristides Capital LLC acquired a new position in Sharps Technology during the fourth quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD bought a new position in Sharps Technology in the fourth quarter valued at approximately $43,000. T3 Companies LLC acquired a new position in shares of Sharps Technology during the 4th quarter worth approximately $68,000. Finally, Cannell & Spears LLC acquired a new position in shares of Sharps Technology during the 1st quarter worth approximately $141,000. Institutional investors own 17.17% of the company’s stock.

About Sharps Technology

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.