Sharps Technology, Inc. (NASDAQ:STSS) Short Interest Update

Sharps Technology, Inc. (NASDAQ:STSS - Get Free Report) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 211,500 shares, a decrease of 33.9% from the September 15th total of 320,100 shares. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.8% of the shares of the stock are short sold. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is currently 0.2 days.

Sharps Technology Trading Up 3.3%

Shares of STSS opened at $5.05 on Wednesday. The firm has a market capitalization of $134.33 million, a P/E ratio of 0.00 and a beta of 2.17. The stock's fifty day simple moving average is $7.87 and its 200 day simple moving average is $6.40. Sharps Technology has a twelve month low of $3.36 and a twelve month high of $1,248.27.

Sharps Technology (NASDAQ:STSS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $4.52. The company had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.25 million.

Sharps Technology announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 2nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 55.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insider Transactions at Sharps Technology

In other Sharps Technology news, Director Timothy James Ruemler sold 20,000 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $16.74, for a total transaction of $334,800.00. Following the transaction, the director owned 20,218 shares of the company's stock, valued at $338,449.32. This represents a 49.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brenda Baird Simpson purchased 20,000 shares of Sharps Technology stock in a transaction on Friday, August 22nd. The shares were acquired at an average cost of $6.41 per share, for a total transaction of $128,200.00. Following the purchase, the director owned 20,000 shares in the company, valued at approximately $128,200. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 720,000 shares of company stock worth $4,615,200 in the last quarter. Insiders own 1.22% of the company's stock.

Institutional Trading of Sharps Technology

An institutional investor recently bought a new position in Sharps Technology stock. Altium Capital Management LLC bought a new stake in shares of Sharps Technology, Inc. (NASDAQ:STSS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,044,149 shares of the company's stock, valued at approximately $110,000. Sharps Technology makes up about 0.3% of Altium Capital Management LLC's portfolio, making the stock its 19th largest position. Altium Capital Management LLC owned about 7,489.16% of Sharps Technology as of its most recent SEC filing. Institutional investors and hedge funds own 17.17% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Sharps Technology in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of "Sell".

Sharps Technology Company Profile

Sharps Technology, Inc, a medical device company, researches, designs, develops, manufactures, distributes, and sells safety syringe products in the United States. It offers Sharps Provensa, an ultra-low waste space syringe for the administration of various vaccines and injectable medications. Sharps Technology, Inc was incorporated in 2017 and is based in Melville, New York.

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