Sharps Technology (NASDAQ:STSS) Issues Quarterly Earnings Results, Beats Estimates By $1.28 EPS

Sharps Technology (NASDAQ:STSS) announced its quarterly earnings data on Monday. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $1.28, FiscalAI reports. The firm had revenue of ($0.01) million during the quarter, compared to analyst estimates of $1.00 million.

Sharps Technology Stock Performance

Shares of STSS stock opened at $1.68 on Wednesday. The stock has a fifty day moving average price of $1.83 and a 200 day moving average price of $3.28. The stock has a market cap of $48.71 million, a PE ratio of 0.00 and a beta of 2.21. Sharps Technology has a 1 year low of $1.42 and a 1 year high of $18.23.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 77,688 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $2.25, for a total value of $174,798.00. Following the sale, the insider directly owned 1,549,170 shares of the company’s stock, valued at approximately $3,485,632.50. This represents a 4.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings Ltd Falconx sold 529,732 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $1.93, for a total transaction of $1,022,382.76. Following the completion of the sale, the insider directly owned 47,281 shares in the company, valued at approximately $91,252.33. The trade was a 91.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 913,967 shares of company stock valued at $1,820,752. Company insiders own 1.22% of the company’s stock.

Institutional Trading of Sharps Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Sharps Technology in the third quarter valued at approximately $9,404,000. Bank of America Corp DE lifted its stake in 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 valued at $52,000 after buying an additional 7,906 shares in the last quarter. Pantera Capital Partners LP purchased a new stake in Sharps Technology in the 3rd quarter valued at approximately $7,498,000. Geode Capital Management LLC grew its holdings in Sharps Technology by 2,349.9% during the 4th 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, Aristides Capital LLC acquired a new stake in Sharps Technology during the 4th quarter valued at $25,000. Hedge funds and other institutional investors own 17.17% of the company’s stock.

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.