InspireMD (NYSE:NSPR) Trading Up 0.9% – Still a Buy?

Shares of InspireMD, Inc. (NYSE:NSPR) traded up 0.9% during trading on Monday . The stock traded as high as $0.7650 and last traded at $0.7161. 96,071 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 180,806 shares. The stock had previously closed at $0.71.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Loop Capital set a $5.00 price target on shares of InspireMD in a research report on Tuesday, February 24th. Lake Street Capital set a $4.00 price objective on shares of InspireMD in a research report on Monday, May 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $3.00 price objective (down from $4.00) on shares of InspireMD in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $4.50.

InspireMD Stock Up 0.9%

The firm has a market cap of $33.54 million, a PE ratio of -0.95 and a beta of 0.74. The company has a 50-day simple moving average of $1.05 and a two-hundred day simple moving average of $1.50.

Insiders Place Their Bets

In related news, Director Paul Stuka purchased 65,626 shares of InspireMD stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average price of $1.16 per share, for a total transaction of $76,126.16. Following the completion of the transaction, the director owned 622,871 shares in the company, valued at $722,530.36. This represents a 11.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Marvin Slosman purchased 21,000 shares of InspireMD stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $1.20 per share, with a total value of $25,200.00. Following the transaction, the chief executive officer owned 3,556,658 shares of the company’s stock, valued at $4,267,989.60. This trade represents a 0.59% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 303,771 shares of company stock valued at $348,697. 34.06% of the stock is currently owned by company insiders.

Institutional Trading of InspireMD

Several hedge funds have recently added to or reduced their stakes in NSPR. Renaissance Technologies LLC purchased a new position in InspireMD in the first quarter valued at about $29,000. XTX Topco Ltd bought a new position in shares of InspireMD during the 4th quarter valued at approximately $30,000. Virtu Financial LLC bought a new position in shares of InspireMD during the 4th quarter valued at approximately $31,000. Creative Planning purchased a new stake in shares of InspireMD during the 2nd quarter worth approximately $44,000. Finally, Legato Capital Management LLC purchased a new stake in shares of InspireMD during the 4th quarter worth approximately $48,000. Institutional investors own 44.78% of the company’s stock.

InspireMD Company Profile

InspireMD, Inc is a medical device company focused on developing next-generation stent technologies for cardiovascular and neurovascular interventions. The company’s core innovation lies in its MicroNet® mesh platform, a proprietary nanostructured covering designed to prevent embolic events during stent implantation. By integrating this fine mesh into traditional stent architectures, InspireMD aims to enhance safety and efficacy in the treatment of carotid artery disease and other vascular pathologies.

The company’s flagship offering, the CGuard® Embolic Prevention System (EPS), has received CE Mark approval and is commercially available in multiple international markets.