Sharps Technology (NASDAQ:STSS) Announces Earnings Results

Sharps Technology (NASDAQ:STSS) issued its earnings results on Monday. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $1.28, FiscalAI reports. The firm had revenue of ($0.01) million during the quarter, compared to the consensus estimate of $1.00 million.

Sharps Technology Trading Up 7.7%

STSS opened at $1.68 on Wednesday. Sharps Technology has a 12 month low of $1.42 and a 12 month high of $18.23. The company has a market cap of $48.71 million, a PE ratio of 0.00 and a beta of 2.21. The company has a 50 day moving average of $1.83 and a 200 day moving average of $3.28.

Insider Buying and Selling at Sharps Technology

In other Sharps Technology news, major shareholder Saba Capital Management, L.P. sold 12,182 shares of the 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 sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings Ltd Falconx sold 239,588 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $1.97, for a total value of $471,988.36. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 913,967 shares of company stock worth $1,820,752. Company insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC bought a new stake in shares of Sharps Technology during the fourth quarter valued at about $25,000. Price T Rowe Associates Inc. MD purchased a new position in Sharps Technology during the fourth quarter valued at approximately $43,000. Bank of America Corp DE grew its stake in Sharps Technology by 98,825.0% during the third quarter. Bank of America Corp DE now owns 7,914 shares of the company’s stock valued at $52,000 after acquiring an additional 7,906 shares in the last quarter. Saba Capital Management L.P. bought a new stake in Sharps Technology during the 4th quarter worth approximately $412,000. Finally, Geode Capital Management LLC increased 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 worth $569,000 after acquiring an additional 268,928 shares during the period. Hedge funds and other institutional investors own 17.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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