Wall Street Zen Downgrades Sharps Technology (NASDAQ:STSS) to Sell

Key Points

• Wall Street Zen downgraded Sharps Technology (NASDAQ:STSS) from a "hold" to a sell, while Weiss Ratings reaffirmed a "sell (e+)" and MarketBeat data shows an average rating of Sell.
• Shares opened at $1.84 and are trading near the 50‑day MA ($1.77) but below the 200‑day MA ($2.51); the company has a market cap of $71.15M and a 52‑week range of $1.42–$18.23, indicating substantial downside from last year's high.
• Notable institutional activity includes large new stakes by Schonfeld Strategic Advisors and Pantera Capital, with overall institutional ownership around 17.17%.

Sharps Technology (NASDAQ:STSS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed 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 an average rating of "Sell".

Sharps Technology Stock Performance

Shares of STSS stock opened at $1.84 on Friday. The stock's fifty day moving average price is $1.77 and its two-hundred day moving average price is $2.51. The company has a market cap of $71.15 million, a PE ratio of 0.00 and a beta of 2.03. Sharps Technology has a fifty-two week low of $1.42 and a fifty-two week high of $18.23.

Institutional Investors Weigh In On Sharps Technology

A number of large investors have recently modified their holdings of STSS. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Sharps Technology in the 3rd quarter valued at $9,404,000. Bank of America Corp DE boosted its holdings in shares of 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. Pantera Capital Partners LP acquired a new stake in shares of Sharps Technology during the 3rd quarter valued at $7,498,000. Geode Capital Management LLC boosted its holdings in shares of Sharps Technology by 2,349.9% during the 4th quarter. Geode Capital Management LLC now owns 280,372 shares of the company's stock valued at $569,000 after acquiring an additional 268,928 shares in the last quarter. Finally, T3 Companies LLC acquired a new stake in shares of Sharps Technology during the 4th quarter valued at $68,000. Institutional investors and hedge funds 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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