Inogen (NASDAQ:INGN) Shares Cross Above 50-Day Moving Average – Time to Sell?

Shares of Inogen, Inc (NASDAQ:INGN) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $5.60 and traded as high as $6.59. Inogen shares last traded at $6.55, with a volume of 235,192 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Inogen currently has an average rating of “Moderate Buy”.

Inogen Price Performance

The firm has a market capitalization of $177.02 million, a P/E ratio of -7.41 and a beta of 1.50. The firm’s 50 day moving average is $5.61 and its two-hundred day moving average is $6.22.

Inogen (NASDAQ:INGN) last announced its quarterly earnings data on Thursday, August 6th. The medical technology company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $95.08 million during the quarter, compared to the consensus estimate of $95.23 million. Inogen had a negative net margin of 6.94% and a negative return on equity of 13.17%.

Institutional Trading of Inogen

Several institutional investors and hedge funds have recently bought and sold shares of INGN. BlackRock Inc. acquired a new position in Inogen in the 2nd quarter valued at about $11,281,000. Readystate Asset Management LP acquired a new stake in Inogen during the second quarter worth approximately $1,718,000. Bank of New York Mellon Corp acquired a new position in shares of Inogen in the second quarter valued at approximately $764,000. Arrowstreet Capital Limited Partnership grew its position in shares of Inogen by 203.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 586,159 shares of the medical technology company’s stock valued at $3,622,000 after purchasing an additional 393,310 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Inogen during the second quarter worth approximately $602,000. Institutional investors own 89.94% of the company’s stock.

Inogen Company Profile

Inogen, Inc is a medical technology company that develops, manufactures and markets oxygen therapy products for people with chronic respiratory conditions. The company focuses primarily on oxygen concentrators, which extract oxygen from ambient air and deliver supplemental oxygen without requiring traditional compressed-gas or liquid-oxygen tanks.

Its product portfolio has included the Inogen One family of portable oxygen concentrators, designed to support mobility and independence, as well as stationary oxygen concentrators such as the Inogen At Home system.