Inogen (NASDAQ:INGN) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Inogen, Inc (NASDAQ:INGN)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.60 and traded as high as $6.65. Inogen shares last traded at $6.30, with a volume of 308,390 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INGN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inogen in a research report on Friday, May 8th. Freedom Capital upgraded Inogen to a “strong-buy” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Inogen Price Performance

The business has a 50-day simple moving average of $6.60 and a 200-day simple moving average of $6.46. The firm has a market capitalization of $170.60 million, a PE ratio of -6.92 and a beta of 1.60.

Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Thursday, May 7th. The medical technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). Inogen had a negative net margin of 7.08% and a negative return on equity of 12.90%. The company had revenue of $85.11 million for the quarter, compared to analysts’ expectations of $82.35 million. On average, research analysts expect that Inogen, Inc will post -0.77 earnings per share for the current year.

Insider Transactions at Inogen

In other Inogen news, EVP Boyer Jennifer M. Yi sold 10,770 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $6.53, for a total transaction of $70,328.10. Following the sale, the executive vice president directly owned 15,977 shares in the company, valued at $104,329.81. This represents a 40.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Inogen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INGN. Quarry LP purchased a new stake in Inogen during the fourth quarter valued at approximately $27,000. Torren Management LLC bought a new position in shares of Inogen during the fourth quarter valued at approximately $51,000. Prelude Capital Management LLC bought a new position in shares of Inogen during the third quarter valued at approximately $82,000. Corient Private Wealth LLC bought a new position in shares of Inogen during the fourth quarter valued at approximately $84,000. Finally, MetLife Investment Management LLC grew its stake in shares of Inogen by 72.2% during the fourth quarter. MetLife Investment Management LLC now owns 12,699 shares of the medical technology company’s stock valued at $85,000 after buying an additional 5,325 shares during the last quarter. 89.94% of the stock is currently owned by hedge funds and other 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.