Inogen (NASDAQ:INGN) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Inogen, Inc (NASDAQ:INGN)’s share price passed 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 traded.

Analyst Upgrades and Downgrades

INGN has been the subject of several research reports. Freedom Capital upgraded shares of Inogen to a “strong-buy” rating in a research note on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Inogen Price Performance

The business’s 50 day moving average price is $6.60 and its 200 day moving average price is $6.46. The stock has a market capitalization of $173.31 million, a P/E ratio of -7.03 and a beta of 1.60.

Inogen (NASDAQ:INGN) last announced its quarterly earnings results on Thursday, May 7th. The medical technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $85.11 million during the quarter, compared to the consensus estimate of $82.35 million. As a group, analysts forecast that Inogen, Inc will post -0.77 earnings per share for the current fiscal year.

Insider Activity at Inogen

In other news, EVP Boyer Jennifer M. Yi sold 10,770 shares of Inogen stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $6.53, for a total value of $70,328.10. Following the completion of the sale, the executive vice president directly owned 15,977 shares in the company, valued at $104,329.81. The trade was a 40.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inogen

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in shares of Inogen by 30.1% in 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 in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Inogen in the first quarter worth $85,000. Goldman Sachs Group Inc. raised its stake 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 valued at $2,026,000 after purchasing an additional 41,002 shares in the last quarter. Jane Street Group LLC purchased a new stake in Inogen during the first quarter valued at $463,000. Finally, Geode Capital Management LLC raised its stake 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 valued at $4,326,000 after purchasing an additional 44,860 shares in the last quarter. 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.