Short Interest in Inogen, Inc (NASDAQ:INGN) Expands By 24.2%

Inogen, Inc (NASDAQ:INGN) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 1,208,558 shares, an increase of 24.2% from the February 12th total of 973,130 shares. Currently, 4.5% of the company’s stock are short sold. Based on an average daily volume of 322,836 shares, the days-to-cover ratio is currently 3.7 days. Based on an average daily volume of 322,836 shares, the days-to-cover ratio is currently 3.7 days. Currently, 4.5% of the company’s stock are short sold.

Institutional Investors Weigh In On Inogen

Hedge funds have recently bought and sold shares of the business. Divisadero Street Capital Management LP boosted its stake in shares of Inogen by 192.3% during the 2nd quarter. Divisadero Street Capital Management LP now owns 455,389 shares of the medical technology company’s stock valued at $3,201,000 after buying an additional 299,571 shares during the last quarter. Armistice Capital LLC acquired a new stake in shares of Inogen during the second quarter worth approximately $4,668,000. AlphaCore Capital LLC bought a new stake in shares of Inogen in the second quarter worth $145,000. Prudential Financial Inc. increased its stake in shares of Inogen by 7.9% in the second quarter. Prudential Financial Inc. now owns 647,188 shares of the medical technology company’s stock worth $4,550,000 after buying an additional 47,267 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Inogen in the second quarter valued at $90,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Inogen Price Performance

Inogen stock traded down $0.04 during midday trading on Friday, hitting $6.06. 179,536 shares of the stock were exchanged, compared to its average volume of 358,775. Inogen has a 1 year low of $5.34 and a 1 year high of $9.13. The firm has a market cap of $165.01 million, a P/E ratio of -7.05 and a beta of 1.76. The company has a 50 day moving average price of $6.14 and a two-hundred day moving average price of $7.14.

Inogen (NASDAQ:INGN) last issued its quarterly earnings data on Tuesday, February 24th. The medical technology company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. Inogen had a negative net margin of 6.52% and a negative return on equity of 11.56%. The firm had revenue of $81.72 million for the quarter, compared to analyst estimates of $82.00 million. As a group, analysts predict that Inogen will post -1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inogen in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.00.

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.