Sharps Technology, Inc. (NASDAQ:STSS) Sees Significant Increase in Short Interest

Key Points

• Short interest rose 22.0% in April to 626,239 shares (about 1.6% of float), producing a short-interest ratio of 1.3 days based on average daily volume.
• STSS opened at $1.75 (down 2.2%), trading near its 50‑day SMA of $1.77 and well below its 200‑day SMA of $2.51, with a market cap of about $67.7 million and a 12‑month range of $1.42–$18.23.
• The stock has a consensus rating of Sell despite a recent upgrade from Wall Street Zen to Hold; institutional investors own 17.17% of shares, including a $412k stake by Saba Capital.

Sharps Technology, Inc. (NASDAQ:STSS - Get Free Report) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 626,239 shares, a growth of 22.0% from the March 31st total of 513,270 shares. Based on an average daily trading volume, of 473,031 shares, the short-interest ratio is presently 1.3 days. Currently, 1.6% of the company's shares are short sold.

Sharps Technology Stock Down 2.2%

STSS stock opened at $1.75 on Thursday. The business's fifty day simple moving average is $1.77 and its two-hundred day simple moving average is $2.51. Sharps Technology has a twelve month low of $1.42 and a twelve month high of $18.23. The firm has a market cap of $67.67 million, a price-to-earnings ratio of 0.00 and a beta of 2.08.

Wall Street Analysts Forecast Growth

STSS has been the topic of several recent research reports. Wall Street Zen upgraded Sharps Technology from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Weiss Ratings restated a "sell (e+)" rating on shares of Sharps Technology in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Institutional Trading of Sharps Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in 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 purchasing an additional 7,906 shares during the period. Aristides Capital LLC purchased a new stake in Sharps Technology in the fourth quarter worth $25,000. Price T Rowe Associates Inc. MD purchased a new stake in Sharps Technology in the fourth quarter worth $43,000. T3 Companies LLC purchased a new stake in Sharps Technology in the fourth quarter worth $68,000. Finally, Saba Capital Management L.P. purchased a new stake in Sharps Technology in the fourth quarter worth $412,000. Hedge funds and other 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.

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