Inogen (NASDAQ:INGN) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Inogen, Inc (NASDAQ:INGN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.03 and traded as low as $6.19. Inogen shares last traded at $6.19, with a volume of 169,003 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inogen in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.00.

Inogen Trading Down 4.8%

The stock has a 50 day moving average of $6.06 and a 200-day moving average of $7.03. The stock has a market capitalization of $168.55 million, a P/E ratio of -7.20 and a beta of 1.77.

Inogen (NASDAQ:INGN) last announced its quarterly earnings data on Tuesday, February 24th. The medical technology company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.10. Inogen had a negative return on equity of 11.56% and a negative net margin of 6.52%.The company had revenue of $81.72 million for the quarter, compared to the consensus estimate of $82.00 million. Research analysts anticipate that Inogen, Inc will post -1.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. increased its stake in Inogen by 3.9% in the 3rd quarter. Alliancebernstein L.P. now owns 51,120 shares of the medical technology company’s stock worth $418,000 after buying an additional 1,900 shares during the period. Russell Investments Group Ltd. grew its stake in Inogen by 14.6% in the 4th quarter. Russell Investments Group Ltd. now owns 19,543 shares of the medical technology company’s stock worth $131,000 after acquiring an additional 2,487 shares in the last quarter. Rhumbline Advisers increased its position in shares of Inogen by 7.0% during the second quarter. Rhumbline Advisers now owns 39,059 shares of the medical technology company’s stock worth $275,000 after acquiring an additional 2,561 shares during the period. American Century Companies Inc. raised its stake in shares of Inogen by 4.9% during the second quarter. American Century Companies Inc. now owns 61,238 shares of the medical technology company’s stock valued at $431,000 after acquiring an additional 2,858 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Inogen by 4.5% in the fourth quarter. Barclays PLC now owns 81,980 shares of the medical technology company’s stock valued at $551,000 after purchasing an additional 3,515 shares during the period. 89.94% of the stock is currently owned by institutional investors.

About Inogen

Inogen, Inc (NASDAQ: INGN) is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company’s core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen’s offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen’s flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.