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

Sharps Technology, Inc. (NASDAQ:STSS) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,700,000 shares, an increase of 154.7% from the February 28th total of 1,060,000 shares. Based on an average daily volume of 14,650,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 25.8% of the company’s shares are short sold.

Sharps Technology Stock Performance

Shares of STSS opened at $0.04 on Friday. The firm has a market capitalization of $232,565.40, a price-to-earnings ratio of -0.01 and a beta of 1.47. Sharps Technology has a 52-week low of $0.04 and a 52-week high of $18.15. The firm has a 50 day simple moving average of $0.49.

Sharps Technology (NASDAQ:STSS) last issued its earnings results on Thursday, March 27th. The company reported ($2.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($2.21).

Institutional Trading of Sharps Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anson Funds Management LP bought a new position in Sharps Technology in the fourth quarter worth approximately $76,000. Essential Planning LLC. lifted its holdings in shares of Sharps Technology by 22.7% in the 4th quarter. Essential Planning LLC. now owns 199,854 shares of the company’s stock worth $412,000 after purchasing an additional 37,029 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC acquired a new stake in Sharps Technology in the 3rd quarter valued at $26,000. 17.17% of the stock is owned by institutional investors.

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.