Sharps Technology, Inc. (NASDAQ:STSS) Short Interest Up 137.3% in May

Sharps Technology, Inc. (NASDAQ:STSS – Get Rating) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 919,900 shares, a growth of 137.3% from the April 30th total of 387,700 shares. Currently, 10.8% of the shares of the company are sold short. Based on an average trading volume of 904,900 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On Sharps Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STSS. Simplicity Solutions LLC acquired a new stake in Sharps Technology during the 1st quarter worth about $26,000. Renaissance Technologies LLC acquired a new stake in Sharps Technology during the 3rd quarter worth about $49,000. Finally, Hudson Bay Capital Management LP acquired a new stake in Sharps Technology during the 1st quarter worth about $312,000. 2.71% of the stock is owned by institutional investors and hedge funds.

Sharps Technology Price Performance

STSS traded down $0.05 during midday trading on Friday, hitting $0.98. 198,090 shares of the company were exchanged, compared to its average volume of 678,654. The company’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.22. Sharps Technology has a 1-year low of $0.76 and a 1-year high of $2.04.

Analyst Ratings Changes

Separately, Aegis initiated coverage on Sharps Technology in a research report on Tuesday, May 9th. They set a “buy” rating on the stock.

About Sharps Technology

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Sharps Technology Inc, a medical device company, researches, designs, develops, manufactures, distributes, and sells safety syringe products in the United States. It offers Sharps Provensa, an ultra-low waste space syringe for the administration of various vaccines and injectable medications. The company was incorporated in 2017 and is based in Melville, New York.