InspireMD (NYSE:NSPR) Trading 0.9% Higher – Should You Buy?

InspireMD, Inc. (NYSE:NSPR) shares rose 0.9% during trading on Monday . The company 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.

Analyst Ratings Changes

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

InspireMD Stock Down 0.1%

The company’s fifty day moving average is $1.03 and its 200-day moving average is $1.49. The company has a market cap of $32.79 million, a PE ratio of -0.93 and a beta of 0.74.

Insider Activity

In other InspireMD news, Director Scott R. Ward purchased 73,255 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were acquired at an average cost of $1.15 per share, with a total value of $84,243.25. Following the completion of the acquisition, the director directly owned 237,096 shares in the company, valued at $272,660.40. The trade was a 44.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary S. Roubin bought 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $1.18 per share, for a total transaction of $106,200.00. Following the purchase, the director directly owned 834,478 shares in the company, valued at $984,684.04. This trade represents a 12.09% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 303,771 shares of company stock valued at $348,697. 34.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On InspireMD

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new stake in shares of InspireMD in the 1st quarter worth about $29,000. XTX Topco Ltd bought a new position in InspireMD during the 4th quarter valued at about $30,000. Virtu Financial LLC purchased a new stake in InspireMD in the 4th quarter worth about $31,000. Creative Planning purchased a new stake in InspireMD in the 2nd quarter worth about $44,000. Finally, Legato Capital Management LLC bought a new stake in InspireMD in the fourth quarter worth about $48,000. 44.78% of the stock is owned by hedge funds and other institutional investors.

About InspireMD

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.