Inogen, Inc. (NASDAQ:INGN) Short Interest Up 7.7% in April

Inogen, Inc. (NASDAQ:INGN) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,820,000 shares, a growth of 7.7% from the March 31st total of 1,690,000 shares. Based on an average trading volume of 536,700 shares, the days-to-cover ratio is currently 3.4 days.

Wall Street Analyst Weigh In

INGN has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Inogen in a report on Tuesday, April 9th. William Blair upgraded Inogen from a “market perform” rating to an “outperform” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.50.

Institutional Trading of Inogen

Institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in shares of Inogen by 347.2% in the fourth quarter. Federated Hermes Inc. now owns 265,485 shares of the medical technology company’s stock worth $1,458,000 after buying an additional 206,125 shares during the last quarter. Acadian Asset Management LLC increased its stake in Inogen by 195.6% during the third quarter. Acadian Asset Management LLC now owns 389,792 shares of the medical technology company’s stock valued at $2,033,000 after acquiring an additional 257,940 shares during the period. Glenmede Trust Co. NA increased its stake in Inogen by 39.8% during the third quarter. Glenmede Trust Co. NA now owns 39,670 shares of the medical technology company’s stock valued at $207,000 after acquiring an additional 11,285 shares during the period. Meros Investment Management LP increased its stake in Inogen by 14.9% during the third quarter. Meros Investment Management LP now owns 589,604 shares of the medical technology company’s stock valued at $3,078,000 after acquiring an additional 76,294 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Inogen by 73.9% during the third quarter. Assenagon Asset Management S.A. now owns 225,730 shares of the medical technology company’s stock valued at $1,178,000 after acquiring an additional 95,913 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

Inogen Trading Up 3.7 %

Shares of INGN stock opened at $7.05 on Thursday. Inogen has a 1-year low of $4.13 and a 1-year high of $14.10. The company has a market capitalization of $166.03 million, a price-to-earnings ratio of -1.60 and a beta of 1.06. The stock’s fifty day simple moving average is $7.24 and its 200-day simple moving average is $6.42.

Inogen (NASDAQ:INGN) last issued its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.49). The business had revenue of $75.90 million for the quarter, compared to analysts’ expectations of $78.09 million. Inogen had a negative net margin of 32.46% and a negative return on equity of 38.98%. On average, sell-side analysts predict that Inogen will post -2.56 EPS for the current year.

About Inogen

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.