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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a report on Friday, May 8th. Freedom Capital upgraded Inogen to a “strong-buy” rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Inogen currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Inogen Stock Performance

The company has a 50 day simple moving average of $6.58 and a two-hundred day simple moving average of $6.51. The company has a market cap of $178.19 million, a PE ratio of -7.23 and a beta of 1.64.

Inogen (NASDAQ:INGN) last released its earnings results on Thursday, May 7th. The medical technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.06). Inogen had a negative net margin of 7.08% and a negative return on equity of 12.90%. The business had revenue of $85.11 million for the quarter, compared to analysts’ expectations of $82.35 million. As a group, analysts expect that Inogen, Inc will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inogen

Several institutional investors and hedge funds have recently bought and sold shares of the business. Armistice Capital LLC grew its stake in Inogen by 46.3% during the 4th quarter. Armistice Capital LLC now owns 1,264,000 shares of the medical technology company’s stock valued at $8,494,000 after acquiring an additional 400,000 shares in the last quarter. Kent Lake PR LLC grew its stake in Inogen by 5.7% during the 2nd quarter. Kent Lake PR LLC now owns 1,061,294 shares of the medical technology company’s stock valued at $7,461,000 after acquiring an additional 57,700 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Inogen by 0.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 881,100 shares of the medical technology company’s stock valued at $6,194,000 after acquiring an additional 6,573 shares in the last quarter. Geode Capital Management LLC grew its stake in Inogen by 7.9% during 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 acquiring an additional 44,860 shares in the last quarter. Finally, Royce & Associates LP grew its stake in Inogen by 15.2% during the 3rd quarter. Royce & Associates LP now owns 600,968 shares of the medical technology company’s stock valued at $4,910,000 after acquiring an additional 79,238 shares in the last quarter. Hedge funds and other institutional investors 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.