Wall Street Zen Upgrades Sharps Technology (NASDAQ:STSS) to Hold

Key Points

• Wall Street Zen upgraded Sharps Technology (NASDAQ:STSS) from a "sell" to a "hold" rating in a report released on Sunday. However, Weiss Ratings still reiterated a "sell (e+)" rating, leaving the stock with an overall average rating of "Sell."
• Sharps Technology shares rose 7.0% and opened at $2.00, with a 50-day moving average of $1.77 and a 200-day moving average of $2.39. The company has a market cap of $77.34 million and a 52-week range of $1.42 to $18.23.
• Institutional interest remains limited but active, with hedge funds and other investors recently adding stakes, including a large percentage increase by Bank of America Corp DE. Still, only 17.17% of the stock is owned by institutional investors and hedge funds.

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

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Sharps Technology in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell".

Sharps Technology Stock Up 7.0%

Shares of Sharps Technology stock opened at $2.00 on Friday. The business's fifty day simple moving average is $1.77 and its 200-day simple moving average is $2.39. The firm has a market cap of $77.34 million, a PE ratio of 0.00 and a beta of 2.03. Sharps Technology has a 52 week low of $1.42 and a 52 week high of $18.23.

Institutional Trading of Sharps Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in 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 worth $52,000 after acquiring an additional 7,906 shares during the period. Aristides Capital LLC acquired a new stake in Sharps Technology during the 4th quarter worth approximately $25,000. Price T Rowe Associates Inc. MD acquired a new stake in Sharps Technology during the 4th quarter worth approximately $43,000. T3 Companies LLC acquired a new stake in Sharps Technology during the 4th quarter worth approximately $68,000. Finally, Saba Capital Management L.P. acquired a new stake in Sharps Technology during the 4th quarter worth approximately $412,000. 17.17% of the stock is owned by institutional investors and hedge funds.

About Sharps Technology

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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