Sharps Technology (NASDAQ:STSS) Announces Earnings Results

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

Sharps Technology Price Performance

Shares of STSS stock traded up $0.12 during trading hours on Tuesday, reaching $1.68. The company had a trading volume of 226,169 shares, compared to its average volume of 306,418. The company has a market cap of $48.71 million, a price-to-earnings ratio of 0.00 and a beta of 2.21. Sharps Technology has a 12 month low of $1.42 and a 12 month high of $18.23. The business has a fifty day simple moving average of $1.83 and a 200-day simple moving average of $3.28.

Insider Buying and Selling at Sharps Technology

In related 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 value of $28,871.34. Following the completion of the sale, the insider directly owned 1,511,988 shares of the company’s stock, valued at approximately $3,583,411.56. This represents a 0.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings Ltd Falconx sold 239,588 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were 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. Insiders have sold 913,967 shares of company stock valued at $1,820,752 in the last quarter. 1.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Feynman Point Asset Management LLC purchased a new position in Sharps Technology during the fourth quarter worth about $1,121,000. Saba Capital Management L.P. bought a new position in shares of Sharps Technology during the 4th quarter worth approximately $412,000. HBK Investments L P bought a new position in shares of Sharps Technology during the 4th quarter worth approximately $1,448,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Sharps Technology in the 4th quarter worth approximately $43,000. Finally, Aristides Capital LLC purchased a new position in shares of Sharps Technology in the 4th quarter worth approximately $25,000. 17.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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