Sharps Technology, Inc. (NASDAQ:STSS) Short Interest Down 32.5% in January

Sharps Technology, Inc. (NASDAQ:STSS - Get Free Report) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 562,865 shares, a drop of 32.5% from the December 31st total of 834,210 shares. Based on an average trading volume of 1,416,805 shares, the short-interest ratio is currently 0.4 days. Currently, 2.0% of the company's shares are sold short. Currently, 2.0% of the company's shares are sold short. Based on an average trading volume of 1,416,805 shares, the short-interest ratio is currently 0.4 days.

Insider Activity

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In related news, major shareholder Saba Capital Management, L.P. sold 77,688 shares of the company's stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $2.25, for a total transaction of $174,798.00. Following the sale, the insider owned 1,549,170 shares in the company, valued at $3,485,632.50. This represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 144,647 shares of company stock valued at $326,381. 1.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Sharps Technology by 98,825.0% during the 3rd quarter. Bank of America Corp DE now owns 7,914 shares of the company's stock worth $52,000 after buying an additional 7,906 shares in the last quarter. Pantera Capital Partners LP purchased a new stake in shares of Sharps Technology during the third quarter valued at approximately $7,498,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Sharps Technology during the third quarter worth $9,404,000. 17.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STSS has been the topic of several recent analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Sharps Technology in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Sharps Technology from a "hold" rating to a "sell" rating in a research report on Saturday, November 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

Read Our Latest Research Report on Sharps Technology

Sharps Technology Trading Down 2.4%

Shares of STSS stock opened at $2.07 on Friday. Sharps Technology has a 12 month low of $1.65 and a 12 month high of $211.20. The firm has a market capitalization of $60.03 million, a PE ratio of 0.00 and a beta of 2.20. The firm has a fifty day simple moving average of $2.41 and a two-hundred day simple moving average of $5.02.

Sharps Technology (NASDAQ:STSS - Get Free Report) last announced its earnings results on Friday, November 14th. The company reported ($4.02) earnings per share (EPS) 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 the consensus estimate of $0.35 million.

About Sharps Technology

(Get Free Report)

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.

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