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 company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 Stock Up 6.7%

STSS traded up $0.11 during midday trading on Friday, reaching $1.76. The company had a trading volume of 242,307 shares, compared to its average volume of 913,230. The business has a 50-day moving average of $2.16 and a two-hundred day moving average of $4.75. Sharps Technology, Inc. has a 1 year low of $1.42 and a 1 year high of $211.20. The company has a market cap of $51.03 million, a P/E ratio of 0.00 and a beta of 2.20.

Sharps Technology (NASDAQ:STSS) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $0.35 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of Sharps Technology by 98,825.0% during the third quarter. Bank of America Corp DE now owns 7,914 shares of the company’s stock worth $52,000 after purchasing an additional 7,906 shares in the last quarter. Aristides Capital LLC acquired a new stake in shares of Sharps Technology during the 4th quarter worth approximately $25,000. T3 Companies LLC purchased a new stake in Sharps Technology in the fourth quarter valued at $68,000. Geode Capital Management LLC lifted its position in Sharps Technology by 2,349.9% in the fourth quarter. Geode Capital Management LLC now owns 280,372 shares of the company’s stock valued at $569,000 after buying an additional 268,928 shares during the last quarter. Finally, Pantera Capital Partners LP purchased a new position in shares of Sharps Technology during the 3rd quarter worth approximately $7,498,000. 17.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on STSS shares. Wall Street Zen lowered Sharps Technology from a “hold” rating to a “sell” rating in a 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

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.