Inogen (NASDAQ:INGN) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Inogen, Inc (NASDAQ:INGN)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.58 and traded as low as $6.28. Inogen shares last traded at $6.30, with a volume of 325,876 shares.

Analysts Set New Price Targets

Several research analysts have issued reports on INGN shares. Freedom Capital upgraded 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 research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Inogen Stock Down 1.3%

The firm has a fifty day moving average price of $6.56 and a 200 day moving average price of $6.58. The company has a market cap of $170.60 million, a P/E ratio of -6.92 and a beta of 1.64.

Inogen (NASDAQ:INGN) last announced its earnings results on Thursday, May 7th. The medical technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.06). The business had revenue of $85.11 million for the quarter, compared to the consensus estimate of $82.35 million. Inogen had a negative return on equity of 12.90% and a negative net margin of 7.08%. On average, sell-side analysts anticipate that Inogen, Inc will post -0.72 earnings per share for the current year.

Institutional Trading of Inogen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its position in Inogen by 3.9% in the third quarter. Alliancebernstein L.P. now owns 51,120 shares of the medical technology company’s stock worth $418,000 after purchasing an additional 1,900 shares during the period. Russell Investments Group Ltd. increased its position in Inogen by 14.6% in the fourth quarter. Russell Investments Group Ltd. now owns 19,543 shares of the medical technology company’s stock worth $131,000 after purchasing an additional 2,487 shares during the period. Rhumbline Advisers increased its position in Inogen by 7.0% in the second quarter. Rhumbline Advisers now owns 39,059 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 2,561 shares during the period. American Century Companies Inc. increased its position in Inogen by 4.9% in the second quarter. American Century Companies Inc. now owns 61,238 shares of the medical technology company’s stock worth $431,000 after purchasing an additional 2,858 shares during the period. Finally, Barclays PLC increased its position in Inogen by 4.5% in the fourth quarter. Barclays PLC now owns 81,980 shares of the medical technology company’s stock worth $551,000 after purchasing an additional 3,515 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.