Best Penny Stocks To Trade #4: InspireMD Inc.
This was one of the penny stocks that tanked late in the 3rd quarter of 2019. But after hitting 52-week lows of $0.74 in November, InspireMD (NSPR – Free Report) has begun turning around. That’s, at least for the time being.
This week, shares reached highs of $1.64 and saw one of its highest trading volume days in months. Though there was no news this week, the newest jump comes after big news from InspireMD. A few weeks ago, the company announced strong, preliminary Q4 results for 2019. It also reported an inducement award.
“We believe our continued strong revenue growth reflects the increasing awareness of CGuard™ by treating physicians, including vascular surgeons, in our key territories. At the same time, we continue to work to introduce CGuard™ into new markets and anticipate that we will be able to sustain this momentum through 2020.”
Marvin Slosman, Chief Executive Officer
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Management stated that it expects revenue to fall somewhere between $1 million and $1.025 million. That’s a 22-25% jump compared to the same period in 2018. This growth was attributed to the company’s increased demand for its CGuard™ EPS, a product used for carotid embolic prevention.
