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

Investment analysts at StockNews.com began coverage on shares of InspireMD (NYSE:NSPR) in a report released on Wednesday. The firm set a “sell” rating on the stock.

Separately, Piper Sandler reissued an “overweight” rating and issued a $4.50 price objective on shares of InspireMD in a research report on Tuesday, September 17th.

InspireMD Price Performance

Shares of NSPR opened at $3.01 on Wednesday. InspireMD has a 1 year low of $1.81 and a 1 year high of $3.42. The company has a 50 day simple moving average of $2.61 and a two-hundred day simple moving average of $2.65. The firm has a market cap of $78.50 million, a P/E ratio of -3.92 and a beta of 0.98.

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

Institutional Investors Weigh In On InspireMD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkman Healthcare Partners LLC bought a new position in shares of InspireMD during the 3rd quarter worth $279,000. Affiance Financial LLC bought a new stake in shares of InspireMD in the third quarter valued at about $492,000. Finally, Rosalind Advisors Inc. lifted its stake in InspireMD by 266.4% in the second quarter. Rosalind Advisors Inc. now owns 2,513,641 shares of the company’s stock worth $6,272,000 after acquiring an additional 1,827,579 shares during the period. Institutional investors own 44.78% of the company’s stock.

InspireMD Company Profile

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.