Analyst Summary
- Sharps Technology Inc. was notified by Nasdaq on March 12, 2025, that it does not comply with Nasdaq Listing Rule 5550(a)(2) because its bid price closed below $1.00 per share for 30 consecutive business days.
- The company is ineligible for the standard 180-day compliance period due to a prior reverse stock split within the past year.
- Sharps Technology intends to request a hearing before the Nasdaq Hearings Panel to appeal the delisting determination and present its plan to regain compliance.
- There is no assurance that the company will be able to demonstrate compliance with the minimum bid price rule or other listing requirements.
- The company’s common stock and warrants are expected to remain listed on Nasdaq under the symbols ‘STSS’ and ‘STSSW’ pending the outcome of the hearing.
Potential Implications
Stock Price
- The notification of non-compliance and potential delisting could negatively impact the company’s stock price.
- The outcome of the hearing and the company’s ability to regain compliance will likely influence investor sentiment and stock performance.