Inogen, Inc. (NASDAQ:INGN) Short Interest Update

Inogen, Inc. (NASDAQ:INGN) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,690,000 shares, a drop of 9.6% from the March 15th total of 1,870,000 shares. Based on an average daily volume of 616,700 shares, the short-interest ratio is currently 2.7 days.

Inogen Stock Down 3.2 %

NASDAQ:INGN opened at $6.93 on Wednesday. The company has a 50 day moving average price of $7.70 and a 200-day moving average price of $6.26. Inogen has a 1-year low of $4.13 and a 1-year high of $14.10.

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

Wall Street Analysts Forecast Growth

INGN has been the topic of several recent analyst reports. William Blair raised Inogen from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Inogen has an average rating of “Hold” and an average target price of $13.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of Inogen by 0.8% in the second quarter. Legal & General Group Plc now owns 57,104 shares of the medical technology company’s stock valued at $1,380,000 after purchasing an additional 434 shares in the last quarter. Captrust Financial Advisors grew its holdings in Inogen by 124.7% in the 1st quarter. Captrust Financial Advisors now owns 993 shares of the medical technology company’s stock valued at $32,000 after buying an additional 551 shares in the last quarter. US Bancorp DE increased its stake in shares of Inogen by 273.0% in the 1st quarter. US Bancorp DE now owns 884 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 647 shares during the last quarter. Credit Suisse AG raised its holdings in shares of Inogen by 4.4% during the 3rd quarter. Credit Suisse AG now owns 16,727 shares of the medical technology company’s stock worth $406,000 after acquiring an additional 705 shares during the period. Finally, American International Group Inc. boosted its position in shares of Inogen by 7.6% during the 2nd quarter. American International Group Inc. now owns 12,276 shares of the medical technology company’s stock valued at $297,000 after acquiring an additional 869 shares during the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

Inogen Company Profile

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.