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

Sharps Technology (NASDAQ:STSS) issued its quarterly earnings data on Tuesday. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $1.28, FiscalAI reports. The company had revenue of ($0.01) million for the quarter, compared to the consensus estimate of $1.00 million.

Sharps Technology Stock Up 7.7%

STSS traded up $0.12 during trading on Tuesday, reaching $1.68. 226,169 shares of the stock traded hands, compared to its average volume of 306,418. The stock’s 50-day moving average is $1.83 and its 200 day moving average is $3.28. Sharps Technology has a 12 month low of $1.42 and a 12 month high of $18.23. The stock has a market capitalization of $48.71 million, a PE ratio of 0.00 and a beta of 2.21.

Insider Activity

In other Sharps Technology news, major shareholder Saba Capital Management, L.P. sold 77,688 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $2.25, for a total value of $174,798.00. Following the transaction, the insider directly owned 1,549,170 shares of the company’s stock, valued at approximately $3,485,632.50. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings Ltd Falconx sold 529,732 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $1.93, for a total value of $1,022,382.76. Following the transaction, the insider owned 47,281 shares in the company, valued at $91,252.33. The trade was a 91.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 913,967 shares of company stock valued at $1,820,752. Corporate insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Feynman Point Asset Management LLC bought a new position in Sharps Technology during the fourth quarter worth $1,121,000. Saba Capital Management L.P. acquired a new position in shares of Sharps Technology during the fourth quarter valued at about $412,000. HBK Investments L P acquired a new position in shares of Sharps Technology during the fourth quarter valued at about $1,448,000. Price T Rowe Associates Inc. MD bought a new position in shares of Sharps Technology during the 4th quarter worth about $43,000. Finally, Aristides Capital LLC acquired a new stake in shares of Sharps Technology in the 4th quarter valued at about $25,000. Institutional investors and hedge funds own 17.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Sharps Technology in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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.