Inogen (NASDAQ:INGN) Share Price Passes Below 50 Day Moving Average – Here’s Why

Inogen, Inc (NASDAQ:INGN) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.58 and traded as low as $6.37. Inogen shares last traded at $6.58, with a volume of 311,459 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have 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 shares of Inogen to a “strong-buy” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Inogen Stock Up 2.8%

The firm’s 50-day simple moving average is $6.58 and its 200 day simple moving average is $6.51. The stock has a market capitalization of $178.19 million, a P/E ratio of -7.23 and a beta of 1.64.

Inogen (NASDAQ:INGN) last issued its quarterly 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). Inogen had a negative return on equity of 12.90% and a negative net margin of 7.08%.The business had revenue of $85.11 million during the quarter, compared to the consensus estimate of $82.35 million. As a group, equities analysts anticipate that Inogen, Inc will post -0.72 EPS for the current fiscal year.

Institutional Trading of Inogen

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. raised its holdings in Inogen by 3.9% during the 3rd quarter. Alliancebernstein L.P. now owns 51,120 shares of the medical technology company’s stock worth $418,000 after buying an additional 1,900 shares during the period. Russell Investments Group Ltd. raised its holdings in Inogen by 14.6% during the 4th quarter. Russell Investments Group Ltd. now owns 19,543 shares of the medical technology company’s stock worth $131,000 after buying an additional 2,487 shares during the period. Rhumbline Advisers raised its holdings in Inogen by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 39,059 shares of the medical technology company’s stock worth $275,000 after buying an additional 2,561 shares during the period. American Century Companies Inc. raised its holdings in Inogen by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 61,238 shares of the medical technology company’s stock worth $431,000 after buying an additional 2,858 shares during the period. Finally, Barclays PLC raised its holdings in Inogen by 4.5% during the 4th quarter. Barclays PLC now owns 81,980 shares of the medical technology company’s stock worth $551,000 after buying an additional 3,515 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

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.