Short Interest in Inogen, Inc (NASDAQ:INGN) Expands By 24.2%

Inogen, Inc (NASDAQ:INGN) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 1,208,558 shares, an increase of 24.2% from the February 12th total of 973,130 shares. Currently, 4.5% of the company’s stock are sold short. Based on an average trading volume of 322,836 shares, the short-interest ratio is presently 3.7 days. Based on an average trading volume of 322,836 shares, the short-interest ratio is presently 3.7 days. Currently, 4.5% of the company’s stock are sold short.

Institutional Trading of Inogen

Several hedge funds have recently bought and sold shares of the company. Armistice Capital LLC boosted its stake in Inogen by 46.3% during the 4th quarter. Armistice Capital LLC now owns 1,264,000 shares of the medical technology company’s stock valued at $8,494,000 after purchasing an additional 400,000 shares during the period. Kent Lake PR LLC grew its position in Inogen by 5.7% in the 2nd quarter. Kent Lake PR LLC now owns 1,061,294 shares of the medical technology company’s stock worth $7,461,000 after purchasing an additional 57,700 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Inogen by 0.8% in the second quarter. Ameriprise Financial Inc. now owns 881,100 shares of the medical technology company’s stock valued at $6,194,000 after purchasing an additional 6,573 shares during the period. Prudential Financial Inc. increased its stake in shares of Inogen by 7.9% in the second 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 period. Finally, Geode Capital Management LLC raised its holdings in shares of Inogen by 7.9% during the second 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 last quarter. 89.94% of the stock is currently owned by institutional investors.

Inogen Trading Down 0.7%

INGN traded down $0.04 during trading on Friday, reaching $6.06. 179,536 shares of the company were exchanged, compared to its average volume of 358,775. Inogen has a 52 week low of $5.34 and a 52 week high of $9.13. The firm has a 50 day moving average of $6.14 and a 200 day moving average of $7.14. The stock has a market cap of $165.01 million, a P/E ratio of -7.05 and a beta of 1.76.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Inogen currently has an average rating of “Hold” and a consensus target price of $11.00.

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.