Sharps Technology (NASDAQ:STSS) Releases Earnings Results

Sharps Technology (NASDAQ:STSS) issued its quarterly earnings results on Thursday. The company reported ($1.19) EPS for the quarter, FiscalAI reports. The firm had revenue of $0.19 million for the quarter.

Sharps Technology Stock Down 6.0%

Shares of STSS traded down $0.12 during mid-day trading on Friday, hitting $1.88. The company had a trading volume of 127,431 shares, compared to its average volume of 311,302. The business’s 50-day simple moving average is $1.80 and its 200-day simple moving average is $2.29. Sharps Technology has a 1-year low of $1.41 and a 1-year high of $18.23. The stock has a market cap of $72.69 million, a PE ratio of 0.00 and a beta of 2.03.

Institutional Investors Weigh In On Sharps Technology

Hedge funds have recently modified their holdings of the stock. Aristides Capital LLC acquired a new stake in shares of Sharps Technology in the fourth quarter worth approximately $25,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Sharps Technology in the fourth quarter worth approximately $43,000. Bank of America Corp DE boosted its position in shares of Sharps Technology by 98,825.0% in the third quarter. Bank of America Corp DE now owns 7,914 shares of the company’s stock worth $52,000 after acquiring an additional 7,906 shares during the last quarter. T3 Companies LLC acquired a new stake in shares of Sharps Technology in the fourth quarter worth approximately $68,000. Finally, Cannell & Spears LLC acquired a new stake in shares of Sharps Technology in the first quarter worth approximately $141,000. 17.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STSS has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Sharps Technology from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sharps Technology in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently 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.