Sharps Technology (NASDAQ:STSS) Issues Earnings Results, Beats Estimates By $1.28 EPS

Sharps Technology (NASDAQ:STSS) announced its quarterly earnings results on Tuesday. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 Price Performance

Shares of NASDAQ STSS traded up $0.12 during mid-day trading on Tuesday, reaching $1.68. 226,169 shares of the company’s stock traded hands, compared to its average volume of 306,418. The stock has a market cap of $48.71 million, a P/E ratio of 0.00 and a beta of 2.21. The business has a 50-day simple moving average of $1.83 and a 200 day simple moving average of $3.28. Sharps Technology has a 1-year low of $1.42 and a 1-year high of $18.23.

Insider Transactions at Sharps Technology

In related news, major shareholder Holdings Ltd Falconx sold 239,588 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $1.97, for a total value of $471,988.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Saba Capital Management, L.P. sold 12,182 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $2.37, for a total transaction of $28,871.34. Following the completion of the transaction, the insider directly owned 1,511,988 shares in the company, valued at approximately $3,583,411.56. The trade was a 0.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 913,967 shares of company stock worth $1,820,752 in the last 90 days. 1.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Aristides Capital LLC bought a new stake in Sharps Technology during the fourth quarter worth $25,000. Price T Rowe Associates Inc. MD bought a new position in Sharps Technology during the 4th quarter valued at $43,000. Bank of America Corp DE lifted its stake in 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 valued at $52,000 after acquiring an additional 7,906 shares in the last quarter. Saba Capital Management L.P. purchased a new position in Sharps Technology during the 4th quarter worth $412,000. Finally, Geode Capital Management LLC grew its stake in shares of Sharps Technology by 2,349.9% in 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 in the last quarter. Institutional investors own 17.17% of the company’s stock.

Analysts Set New Price Targets

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