Sharps Technology (NASDAQ:STSS) Upgraded by Wall Street Zen to Hold Rating

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

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sharps Technology in a research report 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 Stock Performance

Shares of STSS opened at $1.51 on Friday. The business’s 50-day moving average price is $1.79 and its 200 day moving average price is $3.17. The stock has a market capitalization 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.

Insider Buying and Selling at Sharps Technology

In related news, major shareholder Saba Capital Management, L.P. sold 12,182 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $2.37, for a total transaction of $28,871.34. Following the transaction, the insider directly owned 1,511,988 shares of the company’s stock, valued at approximately $3,583,411.56. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings Ltd Falconx sold 239,588 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 913,967 shares of company stock valued at $1,820,752. 1.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sharps Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Aristides Capital LLC acquired a new position in shares of Sharps Technology in the 4th quarter valued at about $25,000. Feynman Point Asset Management LLC purchased a new stake in shares of Sharps Technology in the fourth quarter worth approximately $1,121,000. Saba Capital Management L.P. acquired a new stake in shares of Sharps Technology during the fourth quarter worth approximately $412,000. Arrington Capital Management LLC purchased a new position in Sharps Technology during the fourth quarter valued at approximately $1,874,000. Finally, HBK Investments L P purchased a new position in Sharps Technology during the fourth quarter valued at approximately $1,448,000. Hedge funds and other institutional investors 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.