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

Inogen, Inc (NASDAQ:INGN) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.60 and traded as high as $6.65. Inogen shares last traded at $6.30, with a volume of 308,390 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently commented on INGN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inogen in a research note on Friday, May 8th. Freedom Capital raised Inogen to a “strong-buy” rating in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Inogen has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Inogen Stock Down 4.4%

The company has a market cap of $170.60 million, a P/E ratio of -6.92 and a beta of 1.60. The firm has a 50 day moving average of $6.60 and a 200-day moving average of $6.46.

Inogen (NASDAQ:INGN) last announced 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). Inogen had a negative return on equity of 12.90% and a negative net margin of 7.08%.The firm had revenue of $85.11 million during the quarter, compared to the consensus estimate of $82.35 million. On average, research analysts predict that Inogen, Inc will post -0.77 EPS for the current fiscal year.

Insider Transactions at Inogen

In related news, EVP Boyer Jennifer M. Yi sold 10,770 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was 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 represents a 40.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Inogen by 30.1% during the first quarter. AQR Capital Management LLC now owns 564,032 shares of the medical technology company’s stock worth $4,022,000 after buying an additional 130,381 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Inogen during the first quarter worth $85,000. Goldman Sachs Group Inc. lifted its holdings in Inogen by 16.9% during the first quarter. Goldman Sachs Group Inc. now owns 284,180 shares of the medical technology company’s stock worth $2,026,000 after buying an additional 41,002 shares during the period. Jane Street Group LLC purchased a new stake in Inogen during the first quarter worth $463,000. Finally, Geode Capital Management LLC lifted its holdings in Inogen by 7.9% during the second quarter. Geode Capital Management LLC now owns 615,279 shares of the medical technology company’s stock worth $4,326,000 after buying an additional 44,860 shares during the period. Institutional investors 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.