Inogen, Inc $INGN Shares Sold by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP decreased its position in Inogen, Inc (NASDAQ:INGN) by 80.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,136 shares of the medical technology company’s stock after selling 367,253 shares during the period. Divisadero Street Capital Management LP owned about 0.32% of Inogen worth $720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Kent Lake PR LLC raised its holdings in Inogen by 5.7% during the second quarter. Kent Lake PR LLC now owns 1,061,294 shares of the medical technology company’s stock worth $7,461,000 after purchasing an additional 57,700 shares in the last quarter. Ameriprise Financial Inc. increased its position in Inogen by 0.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 881,100 shares of the medical technology company’s stock worth $6,194,000 after purchasing an additional 6,573 shares during the period. Armistice Capital LLC purchased a new position in shares of Inogen during the 2nd quarter worth approximately $4,668,000. Prudential Financial Inc. raised its stake in shares of Inogen by 7.9% during the 2nd 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Inogen by 7.9% in the 2nd quarter. Geode Capital Management LLC now owns 615,279 shares of the medical technology company’s stock valued at $4,326,000 after buying an additional 44,860 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.00.

Inogen Stock Down 0.7%

Shares of NASDAQ INGN opened at $6.06 on Monday. The stock has a market capitalization of $165.01 million, a price-to-earnings ratio of -7.05 and a beta of 1.76. Inogen, Inc has a 52 week low of $5.34 and a 52 week high of $9.13. The firm has a 50-day moving average price of $6.14 and a 200 day moving average price of $7.14.

Inogen (NASDAQ:INGN) last issued its earnings results on Tuesday, February 24th. The medical technology company reported ($0.26) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $81.72 million for the quarter, compared to analyst estimates of $82.00 million. Equities research analysts expect that Inogen, Inc will post -1.73 EPS for the current fiscal year.

Inogen 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.