Sharps Technology (NASDAQ:STSS) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Sharps Technology (NASDAQ:STSS) from a hold rating to a sell rating in a report published on Saturday morning.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sharps Technology in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Sharps Technology Stock Performance

Sharps Technology stock opened at $1.84 on Friday. The company has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $2.49. The firm has a market capitalization of $71.15 million, a P/E ratio of 0.00 and a beta of 2.03. Sharps Technology has a one year low of $1.42 and a one year high of $18.23.

Hedge Funds Weigh In On Sharps Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Sharps Technology by 98,825.0% in the 3rd quarter. Bank of America Corp DE now owns 7,914 shares of the company’s stock valued at $52,000 after buying an additional 7,906 shares in the last quarter. Aristides Capital LLC bought a new position in Sharps Technology in the 4th quarter valued at about $25,000. Price T Rowe Associates Inc. MD bought a new position in Sharps Technology in the 4th quarter valued at about $43,000. T3 Companies LLC bought a new position in Sharps Technology in the 4th quarter valued at about $68,000. Finally, Saba Capital Management L.P. bought a new position in Sharps Technology in the 4th quarter valued at about $412,000. Institutional investors own 17.17% of the company’s stock.

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.