Sharps Technology (NASDAQ:STSS) Raised to Hold at Wall Street Zen
by Mitch Edgeman · The Markets DailySharps Technology (NASDAQ:STSS – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sharps Technology in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.
Get Our Latest Analysis on STSS
Sharps Technology Price Performance
Shares of STSS stock opened at $1.51 on Friday. The firm has a market cap of $43.79 million, a P/E ratio of 0.00 and a beta of 2.08. Sharps Technology has a 1-year low of $1.42 and a 1-year high of $18.23. The firm’s 50-day simple moving average is $1.79 and its 200-day simple moving average is $3.13.
Insider Transactions at Sharps Technology
In other news, major shareholder Holdings Ltd Falconx sold 239,588 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 12,182 shares of Sharps Technology stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $2.37, for a total value of $28,871.34. Following the completion of the transaction, the insider directly owned 1,511,988 shares in the company, valued at $3,583,411.56. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 913,967 shares of company stock valued at $1,820,752. 1.22% of the stock is owned by company insiders.
Institutional Trading of Sharps Technology
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC acquired a new position in Sharps Technology during the third quarter valued at approximately $9,404,000. Pantera Capital Partners LP acquired a new stake in shares of Sharps Technology in the third quarter worth $7,498,000. HBK Investments L P acquired a new stake in shares of Sharps Technology in the fourth quarter worth $1,448,000. Feynman Point Asset Management LLC purchased a new position in shares of Sharps Technology in the 4th quarter valued at $1,121,000. Finally, Geode Capital Management LLC raised its stake in shares of Sharps Technology by 2,349.9% in the 4th quarter. Geode Capital Management LLC now owns 280,372 shares of the company’s stock valued at $569,000 after acquiring an additional 268,928 shares during the period. Institutional investors and hedge funds own 17.17% of the company’s stock.
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.