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

Sharps Technology, Inc. (NASDAQ:STSS) was the target of a large increase in short interest during the month of 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 company’s stock are sold short.

Institutional Investors Weigh In On Sharps Technology

An institutional investor recently bought a new position in Sharps Technology stock. Garden State Investment Advisory Services LLC purchased a new stake in Sharps Technology, Inc. (NASDAQ:STSS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 172,909 shares of the company’s stock, valued at approximately $26,000. Garden State Investment Advisory Services LLC owned about 9.61% of Sharps Technology at the end of the most recent reporting period. 17.17% of the stock is owned by hedge funds and other institutional investors.

Sharps Technology Trading Up 15.7 %

Shares of Sharps Technology stock traded up $0.05 during trading on Wednesday, hitting $0.37. 5,427,204 shares of the stock were exchanged, compared to its average volume of 2,777,718. The company has a market cap of $2.05 million, a PE ratio of -0.05 and a beta of 1.41. The business’s 50-day simple moving average is $1.62. Sharps Technology has a 12-month low of $0.30 and a 12-month high of $18.15.

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.