Inogen, Inc. (NASDAQ:INGN) Short Interest Down 9.6% in March

Inogen, Inc. (NASDAQ:INGN) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,690,000 shares, a decline of 9.6% from the March 15th total of 1,870,000 shares. Based on an average trading volume of 616,700 shares, the short-interest ratio is presently 2.7 days.

Inogen Stock Down 2.7 %

Shares of NASDAQ INGN opened at $7.16 on Tuesday. The business has a fifty day simple moving average of $7.70 and a 200-day simple moving average of $6.26. The company has a market cap of $167.04 million, a price-to-earnings ratio of -1.62 and a beta of 1.06. Inogen has a 12 month low of $4.13 and a 12 month high of $14.10.

Inogen (NASDAQ:INGN) last announced its earnings results on Tuesday, February 27th. The medical technology company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.49). Inogen had a negative return on equity of 38.98% and a negative net margin of 32.46%. The firm had revenue of $75.90 million during the quarter, compared to analyst estimates of $78.09 million. As a group, sell-side analysts expect that Inogen will post -2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Inogen in a report on Tuesday, April 9th. William Blair upgraded shares of Inogen from a “market perform” rating to an “outperform” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Inogen currently has a consensus rating of “Hold” and an average target price of $13.67.

Hedge Funds Weigh In On Inogen

Several large investors have recently made changes to their positions in INGN. US Bancorp DE raised its holdings in Inogen by 273.0% during the 1st quarter. US Bancorp DE now owns 884 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 647 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Inogen by 84.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,288 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 2,419 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Inogen by 124.7% during the first quarter. Captrust Financial Advisors now owns 993 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 551 shares during the period. FMR LLC increased its holdings in Inogen by 415.1% in the third quarter. FMR LLC now owns 7,907 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 6,372 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Inogen by 2,918.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,908 shares of the medical technology company’s stock valued at $43,000 after buying an additional 7,646 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

About Inogen

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.