Home Equities Score Here is why InspireMD Inc (NSPR) Stock facing negativity since last week?

Here is why InspireMD Inc (NSPR) Stock facing negativity since last week?

InspireMD Inc. (NSPR) shares lost 4.65% on Friday. NSPR shares have declined 46.05% over the last 12 months, and they have moved down by -33.05% in the past week. Over the past three months, the stock has lost -37.40%, while over the past six months, it has added 27.25%.

Let’s have a look at its recent developments


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Major changes of NSPR common stock

On April 14, 2021, InspireMD, Inc. announced major changes for its common stock in a special meeting of the stockholders and performed a 1-for-15 reverse split of its common stock, effective as of April 26, 2021.

The NSPR stock will trade on the NYSE American on a split-adjusted basis from April 27, 2021. The reverse stock split will reduce the number of common stock shares.

Recent financial results

On March 09, 2021, InspireMD, Inc announced financial results for the fourth quarter and the year ended December 31, 2020.

Q4 2020 financial highlights

  • For Q42020, revenue was$158,000, compared to $1,013,000 during the three months ended December 31, 2019.
  • For the three months ended December 31, 2020, gross profit was a negative $390,000, compared to $259,000 during the same quarter in 2019.
  • Total operating expenses for the reported quarter were $3,328,000, compared to $2,765,000 for the same period in 2019.
  • NSPR financial expenses were $131,000 for Q4 2020 compared to $27,000 during the three months ended December 31, 2019.
  • NSPR suffered a net loss of $3,853,000, or $0.10 per basic and diluted share in Q4 2020 compared to a net loss of $2,557,000, or $0.57 per basic and diluted share, for the same period in 2019.

Full-year 2020 financial highlights

  • InspireMD revenue decreased to $2,485,000 for FY 2020, from $3,721,000 during the twelve months ended December 31, 2019.
  • For the twelve months ended December 31, 2020, gross profit was $83,000, compared to $756,000 for the prior year.
  • For FY 2020 total operating expenses were $10,463,000compared to $10,572,000 for the same period in 2019.
  • NSPR spent $160,000 in financial expenses in FY 2020 compared to $200,000 for the same period in 2019.
  • The company suffered a net loss of $10,544,000, or $0.46 per basic and diluted share in FY 2020, compared to a net loss of $10,040,000, or $4.80 per basic and diluted share, for the same period in 2019.
  • InspireMD had cash and cash equivalents of $12,645,000 at decemebt 31, 2020, compared to $5,514,000 as of December 31, 2019.

Conclusion

NSPR past performance is not satisfactory and the recent major changes to its common stock also impacting its stock price in the market. We can hope for a positive trend at the start of the new week which is very unlikely.

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