Inogen (NASDAQ:INGN) Stock Passes Above 50 Day Moving Average – What’s Next?

Shares of Inogen, Inc (NASDAQ:INGN) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $6.48 and traded as high as $6.56. Inogen shares last traded at $6.40, with a volume of 266,825 shares trading hands.

Analysts Set New Price Targets

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

Inogen Stock Down 2.6%

The stock has a market cap of $173.31 million, a PE ratio of -7.03 and a beta of 1.58. The business has a 50 day moving average price of $6.48 and a 200 day moving average price of $6.40.

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

Insider Buying and Selling at Inogen

In other news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total transaction of $72,190.80. Following the completion of the transaction, the executive vice president directly owned 5,039 shares of the company’s stock, valued at $33,257.40. This represents a 68.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Inogen

Several institutional investors have recently bought and sold shares of the company. Marquette Asset Management LLC purchased a new stake in shares of Inogen during the second quarter worth approximately $228,000. Assenagon Asset Management S.A. raised its holdings in Inogen by 70.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 86,940 shares of the medical technology company’s stock valued at $561,000 after buying an additional 35,912 shares during the period. Quantinno Capital Management LP increased its position in shares of Inogen by 78.1% during the first quarter. Quantinno Capital Management LP now owns 90,995 shares of the medical technology company’s stock valued at $562,000 after acquiring an additional 39,915 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Inogen by 203.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 586,159 shares of the medical technology company’s stock valued at $3,622,000 after acquiring an additional 393,310 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Inogen by 75.4% during the fourth quarter. Hsbc Holdings PLC now owns 60,482 shares of the medical technology company’s stock worth $406,000 after purchasing an additional 25,998 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.