StockNews.com Initiates Coverage on InspireMD (NYSE:NSPR)

StockNews.com began coverage on shares of InspireMD (NYSE:NSPR) in a report released on Monday. The firm issued a sell rating on the stock.

Separately, Piper Sandler restated an “overweight” rating and set a $4.50 target price on shares of InspireMD in a research note on Tuesday, September 17th.

InspireMD Stock Performance

NYSE NSPR opened at $2.58 on Monday. The business’s fifty day moving average is $2.57 and its 200 day moving average is $2.61. The company has a market capitalization of $67.29 million, a PE ratio of -3.44 and a beta of 0.93. InspireMD has a fifty-two week low of $1.81 and a fifty-two week high of $3.42.

InspireMD (NYSE:NSPR) last released its earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.04. InspireMD had a negative net margin of 413.96% and a negative return on equity of 69.42%. The company had revenue of $1.81 million during the quarter, compared to analyst estimates of $1.74 million. During the same period in the prior year, the firm posted ($0.15) EPS. On average, sell-side analysts forecast that InspireMD will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rosalind Advisors Inc. raised its position in shares of InspireMD by 266.4% during the second quarter. Rosalind Advisors Inc. now owns 2,513,641 shares of the company’s stock valued at $6,272,000 after buying an additional 1,827,579 shares during the last quarter. Affiance Financial LLC purchased a new position in InspireMD during the third quarter valued at $492,000. Finally, Parkman Healthcare Partners LLC bought a new stake in InspireMD in the 3rd quarter valued at $279,000. 44.78% of the stock is currently owned by institutional investors.

About InspireMD

InspireMD, Inc, a medical device company, focuses on the development and commercialization of MicroNet stent platform technology for the treatment of vascular and coronary diseases in Europe, Latin America, the Middle East, and Asia Pacific. The company offers CGuard carotid embolic prevention system (EPS) for use in carotid artery applications; CGuard Prime Stent System, a mesh-covered self-expanding carotid stent; and SwitchGuard NPS, a non-invasive transcarotid artery revascularization device; as well as treating acute stroke with tandem lesions.