Inogen (NASDAQ:INGN) Stock Passes Below 200-Day Moving Average – Here’s Why

Inogen, Inc (NASDAQ:INGN) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.58 and traded as low as $6.28. Inogen shares last traded at $6.30, with a volume of 325,876 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Freedom Capital raised Inogen to a “strong-buy” rating in a research note on Tuesday, April 7th. Weiss Ratings reissued 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 given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Inogen presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Inogen Stock Down 1.7%

The firm has a market cap of $171.69 million, a PE ratio of -6.97 and a beta of 1.64. The company’s 50 day moving average price is $6.56 and its two-hundred day moving average price is $6.55.

Inogen (NASDAQ:INGN) last announced 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 firm had revenue of $85.11 million during the quarter, compared to analysts’ expectations of $82.35 million. On average, analysts expect that Inogen, Inc will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inogen

A number of institutional investors and hedge funds have recently modified their holdings of INGN. AQR Capital Management LLC lifted its stake in shares of Inogen by 30.1% during the 1st quarter. AQR Capital Management LLC now owns 564,032 shares of the medical technology company’s stock worth $4,022,000 after acquiring an additional 130,381 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Inogen in the 1st quarter valued at about $85,000. Goldman Sachs Group Inc. boosted its position in Inogen by 16.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 284,180 shares of the medical technology company’s stock valued at $2,026,000 after buying an additional 41,002 shares during the period. Jane Street Group LLC purchased a new stake in Inogen in the 1st quarter valued at about $463,000. Finally, Geode Capital Management LLC boosted its position in Inogen by 7.9% in 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 buying an additional 44,860 shares during the period. 89.94% of the stock is owned by institutional investors.

Inogen Company Profile

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.