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

Inogen, Inc (NASDAQ:INGN) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.61 and traded as high as $6.92. Inogen shares last traded at $6.78, with a volume of 178,315 shares traded.

Analysts Set New Price Targets

INGN has been the subject of several analyst reports. Freedom Capital raised Inogen to a “strong-buy” rating in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inogen in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Inogen currently has a consensus rating of “Moderate Buy”.

Inogen Trading Up 0.3%

The company has a 50-day simple moving average of $6.61 and a 200 day simple moving average of $6.42. The company has a market cap of $183.60 million, a P/E ratio of -7.45 and a beta of 1.60.

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

Insider Buying and Selling

In related news, EVP Boyer Jennifer M. Yi sold 10,770 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $6.53, for a total value of $70,328.10. Following the transaction, the executive vice president owned 15,977 shares of the company’s stock, valued at $104,329.81. This trade represents a 40.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inogen

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

Inogen Company Profile

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.