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

Inogen, Inc (NASDAQ:INGN) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty 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 changing hands.

Analysts Set New Price Targets

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

Inogen Stock Performance

The company has a market capitalization of $187.94 million, a price-to-earnings ratio of -7.63 and a beta of 1.60. The company has a fifty day simple moving average of $6.63 and a two-hundred day simple moving average of $6.43.

Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Thursday, May 7th. The medical technology company reported ($0.30) earnings per share (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 analyst estimates of $82.35 million. Inogen had a negative return on equity of 12.90% and a negative net margin of 7.08%. As a group, analysts expect that Inogen, Inc will post -0.77 EPS for the current year.

Insider Transactions at Inogen

In other Inogen news, EVP Boyer Jennifer M. Yi sold 10,770 shares of Inogen stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $6.53, for a total value of $70,328.10. Following the completion of the sale, the executive vice president owned 15,977 shares in the company, valued at $104,329.81. The trade was a 40.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Inogen

A number of hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP grew its stake in shares of Inogen by 78.1% during the 1st quarter. Quantinno Capital Management LP now owns 90,995 shares of the medical technology company’s stock valued at $562,000 after buying an additional 39,915 shares during the period. Arrowstreet Capital Limited Partnership raised its position 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 worth $3,622,000 after buying an additional 393,310 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Inogen by 15.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 51,028 shares of the medical technology company’s stock worth $315,000 after buying an additional 6,843 shares during the period. Hsbc Holdings PLC boosted its holdings in Inogen by 75.4% in the fourth quarter. Hsbc Holdings PLC now owns 60,482 shares of the medical technology company’s stock valued at $406,000 after acquiring an additional 25,998 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new position in Inogen in the fourth quarter valued at $84,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

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.