Inogen (NASDAQ:INGN) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Inogen, Inc (NASDAQ:INGN) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.24 and traded as low as $6.63. Inogen shares last traded at $6.71, with a volume of 113,777 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Inogen in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.00.

Inogen Stock Down 1.3%

The company has a market capitalization of $182.16 million, a P/E ratio of -6.64 and a beta of 1.82. The business’s 50-day moving average is $7.24 and its two-hundred day moving average is $7.43.

Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Wednesday, November 5th. The medical technology company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. Inogen had a negative net margin of 7.31% and a negative return on equity of 13.21%. The firm had revenue of $92.39 million during the quarter, compared to analyst estimates of $92.20 million. Analysts predict that Inogen, Inc will post -1.73 EPS for the current year.

Institutional Trading of Inogen

A number of hedge funds have recently bought and sold shares of INGN. Tudor Investment Corp ET AL grew its stake in Inogen by 5.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 137,650 shares of the medical technology company’s stock valued at $1,125,000 after purchasing an additional 7,415 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Inogen by 1.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 295,682 shares of the medical technology company’s stock worth $2,416,000 after buying an additional 5,271 shares during the last quarter. Armistice Capital LLC grew its position in Inogen by 30.1% during the third quarter. Armistice Capital LLC now owns 864,000 shares of the medical technology company’s stock valued at $7,059,000 after buying an additional 200,000 shares during the period. Qube Research & Technologies Ltd increased its holdings in Inogen by 99.8% during the third quarter. Qube Research & Technologies Ltd now owns 178,284 shares of the medical technology company’s stock worth $1,457,000 after buying an additional 89,071 shares during the last quarter. Finally, Prelude Capital Management LLC bought a new stake in Inogen in the third quarter worth about $82,000. 89.94% of the stock is currently owned by institutional investors.

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.