Sharps Technology (NASDAQ:STSS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sharps Technology (NASDAQ:STSS) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings reaffirmed 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 company has a consensus rating of “Sell”.

Sharps Technology Trading Down 1.3%

Shares of NASDAQ STSS opened at $1.49 on Friday. Sharps Technology has a 12-month low of $1.42 and a 12-month high of $18.23. The stock has a market cap of $43.20 million, a PE ratio of 0.00 and a beta of 2.08. The company has a 50-day moving average of $1.78 and a 200 day moving average of $3.08.

Insider Activity

In other Sharps Technology news, major shareholder Holdings Ltd Falconx sold 529,732 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $1.93, for a total value of $1,022,382.76. Following the transaction, the insider directly owned 47,281 shares in the company, valued at $91,252.33. The trade was a 91.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 77,688 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $2.25, for a total transaction of $174,798.00. Following the completion of the transaction, the insider owned 1,549,170 shares in the company, valued at $3,485,632.50. The trade was a 4.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 913,967 shares of company stock worth $1,820,752 over the last quarter. 1.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sharps Technology

Large investors have recently made changes to their positions in the stock. Aristides Capital LLC acquired a new position in shares of Sharps Technology in the 4th quarter worth approximately $25,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Sharps Technology in the 4th quarter worth approximately $43,000. Bank of America Corp DE lifted its holdings in shares of Sharps Technology by 98,825.0% in the 3rd quarter. Bank of America Corp DE now owns 7,914 shares of the company’s stock worth $52,000 after acquiring an additional 7,906 shares during the last quarter. T3 Companies LLC acquired a new position in shares of Sharps Technology in the 4th quarter worth approximately $68,000. Finally, Saba Capital Management L.P. acquired a new position in shares of Sharps Technology in the 4th quarter worth approximately $412,000. 17.17% of the stock is currently owned by institutional investors and hedge funds.

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.