Sharps Technology (NASDAQ:STSS) Major Shareholder Holdings Ltd Falconx Sells 529,732 Shares

Sharps Technology, Inc. (NASDAQ:STSS) major shareholder Holdings Ltd Falconx sold 529,732 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $1.93, for a total transaction of $1,022,382.76. Following the sale, the insider directly owned 47,281 shares of the company’s stock, valued at $91,252.33. This represents a 91.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 Monday, January 12th, Holdings Ltd Falconx sold 239,588 shares of Sharps Technology stock. The stock was sold at an average price of $1.97, for a total transaction of $471,988.36.

Sharps Technology Price Performance

Shares of STSS traded up $0.11 during midday trading on Friday, hitting $1.76. The stock had a trading volume of 242,307 shares, compared to its average volume of 913,230. The firm has a market cap of $51.03 million, a price-to-earnings ratio of 0.00 and a beta of 2.20. The company has a 50 day simple moving average of $2.16 and a two-hundred day simple moving average of $4.75. Sharps Technology, Inc. has a twelve month low of $1.42 and a twelve month high of $211.20.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its stake 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. Aristides Capital LLC bought a new position in Sharps Technology during the fourth quarter worth about $25,000. T3 Companies LLC bought a new position in Sharps Technology during the fourth quarter worth about $68,000. Geode Capital Management LLC increased its position in Sharps Technology by 2,349.9% during the fourth quarter. Geode Capital Management LLC now owns 280,372 shares of the company’s stock worth $569,000 after buying an additional 268,928 shares during the last quarter. Finally, Pantera Capital Partners LP bought a new stake in Sharps Technology in the third quarter valued at approximately $7,498,000. Institutional investors own 17.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sharps Technology in a research report on Thursday, January 22nd. Wall Street Zen cut Sharps Technology from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock 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.