Inogen, Inc (NASDAQ:INGN) Sees Significant Increase in Short Interest

Inogen, Inc (NASDAQ:INGN) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 973,130 shares, an increase of 18.9% from the January 29th total of 818,449 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 267,212 shares, the days-to-cover ratio is currently 3.6 days. Based on an average daily volume of 267,212 shares, the days-to-cover ratio is currently 3.6 days. Approximately 3.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Inogen Stock Performance

Shares of NASDAQ:INGN traded up $0.25 during midday trading on Thursday, reaching $6.56. 249,312 shares of the company’s stock traded hands, compared to its average volume of 285,586. The company has a fifty day simple moving average of $6.20 and a two-hundred day simple moving average of $7.21. Inogen has a 1 year low of $5.34 and a 1 year high of $9.13. The company has a market cap of $178.63 million, a P/E ratio of -7.63 and a beta of 1.77.

Inogen (NASDAQ:INGN) last posted its quarterly earnings data on Tuesday, February 24th. The medical technology company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. The company had revenue of $81.72 million during the quarter, compared to analysts’ expectations of $82.00 million. Inogen had a negative net margin of 6.52% and a negative return on equity of 11.56%. As a group, research analysts forecast that Inogen will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Inogen

Institutional investors have recently bought and sold shares of the company. Divisadero Street Capital Management LP lifted its position in shares of Inogen by 192.3% in the second quarter. Divisadero Street Capital Management LP now owns 455,389 shares of the medical technology company’s stock valued at $3,201,000 after acquiring an additional 299,571 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Inogen during the second quarter worth approximately $4,668,000. AlphaCore Capital LLC acquired a new position in Inogen in the 2nd quarter valued at $145,000. Prudential Financial Inc. raised its stake in Inogen by 7.9% in the 2nd quarter. Prudential Financial Inc. now owns 647,188 shares of the medical technology company’s stock valued at $4,550,000 after purchasing an additional 47,267 shares during the last quarter. Finally, Inspire Advisors LLC lifted its holdings in Inogen by 23.9% in the 2nd quarter. Inspire Advisors LLC now owns 54,507 shares of the medical technology company’s stock valued at $383,000 after purchasing an additional 10,519 shares in the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.

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.