Are Smart Investors Making the Right Decision? Sharps Technology Inc. (STSS)

Sharps Technology Inc. (NASDAQ: STSS) stock fell -5.50% on Thursday to $1.03 against a previous-day closing price of $1.09. With 0.1 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.94 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $1.1300 whereas the lowest price it dropped to was $1.0300. The 52-week range on STSS shows that it touched its highest point at $2.04 and its lowest point at $0.76 during that stretch. It currently has a 1-year price target of $16.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of STSS was up-trending over the past week, with a rise of 7.29%, but this was up by 28.43% over a month. Three-month performance dropped to -16.94% while six-month performance fell -0.96%. The stock lost -13.81% in the past year, while it has lost -14.88% so far this year.

Float and Shares Shorts:

At present, 11.66 million STSS shares are outstanding with a float of 5.70 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.39 million, which was 3.33% higher than short shares on Mar 30, 2023. In addition to Mr. Alan R. Blackman as the firm’s Co-Chairman & Sec., Mr. Robert M. Hayes serves as its CEO & Director.

Institutional Ownership:

Through their ownership of 1.87% of STSS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 14.49% of STSS, in contrast to — held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in STSS with 2.13% of the stake, Hudson Bay Capital Management LP holds 295,858 shares worth 295,858. A second-largest stockholder of STSS, HighTower Advisors LLC, holds 120,800 shares, controlling over 0.87% of the firm’s shares. Simplicity Solutions LLC is the third largest shareholder in STSS, holding 23,500 shares or 0.17% stake.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, STSS reported revenue of $0.00 and operating income of -$2.79M. The EBITDA in the recently reported quarter was -$7.07M and diluted EPS was $0.06.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for STSS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With STSS analysts setting a high price target of $16.00 and a low target of $16.00, the average target price over the next 12 months is $16.00. Based on these targets, STSS could surge 1453.4% to reach the target high and rise by 1453.4% to reach the target low. Reaching the average price target will result in a growth of 1453.4% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded STSS stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 9,100 shares were bought while 0 shares were sold. The number of buy transactions has increased to 40 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 40,682 while 0 shares were sold.

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