Sharps Technology (NASDAQ:STSS) Major Shareholder Holdings Ltd Falconx Sells 239,588 Shares

Sharps Technology, Inc. (NASDAQ:STSS) major shareholder Holdings Ltd Falconx sold 239,588 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $1.97, for a total transaction of $471,988.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more 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 stock was sold at an average price of $1.93, for a total value of $1,022,382.76.

Sharps Technology Trading Up 6.7%

STSS stock traded up $0.11 during trading on Friday, hitting $1.76. 242,307 shares of the company’s stock were exchanged, compared to its average volume of 913,230. The stock has a market capitalization of $51.03 million, a price-to-earnings ratio of 0.00 and a beta of 2.20. Sharps Technology, Inc. has a 52-week low of $1.42 and a 52-week high of $211.20. The business has a 50-day moving average price of $2.16 and a two-hundred day moving average price of $4.75.

Sharps Technology (NASDAQ:STSS) last posted its earnings results on Friday, November 14th. The company reported ($4.02) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($3.01). The company had revenue of $2.29 million for the quarter, compared to analysts’ expectations of $0.35 million.

Hedge Funds Weigh In On Sharps Technology

Several hedge funds have recently added to or reduced their stakes in the business. Aristides Capital LLC acquired a new position in Sharps Technology during the fourth quarter worth about $25,000. T3 Companies LLC acquired a new stake in shares of Sharps Technology in the fourth quarter valued at approximately $68,000. Geode Capital Management LLC increased its stake in shares of Sharps Technology by 2,349.9% during the 4th quarter. Geode Capital Management LLC now owns 280,372 shares of the company’s stock worth $569,000 after purchasing an additional 268,928 shares in the last quarter. Pantera Capital Partners LP acquired a new position in shares of Sharps Technology during the 3rd quarter worth approximately $7,498,000. Finally, Bank of America Corp DE raised 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 purchasing an additional 7,906 shares during the last quarter. 17.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Sharps Technology from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sharps Technology in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

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.