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

Sharps Technology, Inc. (NASDAQ:STSS) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 428,100 shares, an increase of 356.4% from the January 15th total of 93,800 shares. Based on an average daily volume of 1,250,000 shares, the short-interest ratio is currently 0.3 days. Approximately 33.5% of the shares of the stock are short sold.

Sharps Technology Price Performance

Sharps Technology stock traded down $0.01 during mid-day trading on Thursday, hitting $0.37. 4,677,314 shares of the company were exchanged, compared to its average volume of 2,899,177. The firm has a 50 day moving average price of $1.59. Sharps Technology has a 12-month low of $0.30 and a 12-month high of $18.15. The firm has a market cap of $2.01 million, a P/E ratio of -0.05 and a beta of 1.41.

Hedge Funds Weigh In On Sharps Technology

A hedge fund recently raised its stake in Sharps Technology stock. Essential Planning LLC. grew its stake in shares of Sharps Technology, Inc. (NASDAQ:STSS) by 22.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,854 shares of the company’s stock after acquiring an additional 37,029 shares during the quarter. Essential Planning LLC. owned about 3.63% of Sharps Technology worth $412,000 at the end of the most recent quarter. 17.17% of the stock is currently owned by hedge funds and other 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.