Why Sharps Technology Stock Is Up

Sharps Technology Inc. STSS shares are trading higher Thursday after the company signed a $30 million purchase order from Nephron Pharmaceuticals.

The Details:

Sharps said the purchase order represents the first 12 months of syringe purchase commitments of an enhanced asset purchase agreement and accompanying five-year, $200 million syringe sales agreement with Nephron. These agreements are expected to close before the end of July, although there can be no assurance. The purchase order is conditioned on the closing of the asset purchase agreement.

"Once the enhanced deal with Nephron was negotiated and signed, everything began moving at an accelerated pace. Sharps is so pleased that Nephron has been willing to issue this Purchase Order now. It speaks to the collaborative relationship between our companies and the long partnership we want to have with Nephron,” commented Robert Hayes, Sharps Technology CEO. 

“We really look forward to this exciting chapter for Sharps Technology. The PO from Nephron is tangible evidence that our hard work is showing results.”

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How To Buy STSS Stock:

By now you're likely curious about how to participate in the market for Sharps Technology – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Sharps Technology, which is trading at 43 cents as of publishing time, $100 would buy you 250 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

STSS Price Action: According to Benzinga Pro, Sharps Technology shares are up 20% at 36cents at the time of publication Thursday.

Image: Gerd Altmann from Pixabay