Short Interest in Inogen, Inc. (NASDAQ:INGN) Decreases By 9.6%

Inogen, Inc. (NASDAQ:INGN) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,690,000 shares, a drop of 9.6% from the March 15th total of 1,870,000 shares. Based on an average daily trading volume, of 616,700 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on INGN shares. William Blair upgraded shares of Inogen from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 15th. Needham & Company LLC reiterated a “hold” rating on shares of Inogen in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.67.

Inogen Price Performance

INGN opened at $6.93 on Wednesday. The company’s 50 day simple moving average is $7.70 and its 200-day simple moving average is $6.26. Inogen has a one year low of $4.13 and a one year high of $14.10.

Inogen (NASDAQ:INGN) last announced its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.49). The firm had revenue of $75.90 million during the quarter, compared to the consensus estimate of $78.09 million. Inogen had a negative net margin of 32.46% and a negative return on equity of 38.98%. On average, equities analysts anticipate that Inogen will post -2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Inogen

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Inogen by 5.5% in the third quarter. BlackRock Inc. now owns 3,866,696 shares of the medical technology company’s stock valued at $93,883,000 after buying an additional 201,073 shares during the period. Vanguard Group Inc. lifted its stake in shares of Inogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,565,014 shares of the medical technology company’s stock valued at $83,157,000 after purchasing an additional 42,755 shares during the period. Fred Alger Management LLC boosted its position in shares of Inogen by 5.2% in the 4th quarter. Fred Alger Management LLC now owns 1,140,955 shares of the medical technology company’s stock worth $22,488,000 after purchasing an additional 56,711 shares during the last quarter. State Street Corp grew its stake in shares of Inogen by 12.4% during the first quarter. State Street Corp now owns 1,075,905 shares of the medical technology company’s stock worth $13,427,000 after purchasing an additional 118,605 shares during the period. Finally, Bamco Inc. NY increased its holdings in Inogen by 2.1% in the fourth quarter. Bamco Inc. NY now owns 976,644 shares of the medical technology company’s stock valued at $19,250,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

About Inogen

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.