Inogen (NASDAQ:INGN) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Inogen, Inc (NASDAQ:INGN)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $6.48 and traded as high as $6.56. Inogen shares last traded at $6.40, with a volume of 266,825 shares trading hands.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Freedom Capital upgraded Inogen to a “strong-buy” rating in a report on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Inogen presently has a consensus rating of “Moderate Buy”.

Inogen Price Performance

The business’s 50-day moving average price is $6.48 and its 200 day moving average price is $6.40. The firm has a market capitalization of $175.88 million, a price-to-earnings ratio of -7.14 and a beta of 1.58.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Thursday, May 7th. The medical technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $82.35 million. As a group, sell-side analysts expect that Inogen, Inc will post -0.77 earnings per share for the current year.

Insider Activity

In other news, EVP Boyer Jennifer M. Yi sold 10,938 shares of Inogen stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total transaction of $72,190.80. Following the sale, the executive vice president directly owned 5,039 shares of the company’s stock, valued at approximately $33,257.40. The trade was a 68.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Inogen

A number of hedge funds have recently bought and sold shares of INGN. Quarry LP acquired a new position in shares of Inogen in the 4th quarter valued at approximately $27,000. Torren Management LLC bought a new stake in shares of Inogen in the fourth quarter worth $51,000. Prelude Capital Management LLC bought a new stake in shares of Inogen in the third quarter worth $82,000. Corient Private Wealth LLC acquired a new stake in Inogen in the fourth quarter valued at $84,000. Finally, MetLife Investment Management LLC raised its holdings in Inogen by 72.2% in the fourth quarter. MetLife Investment Management LLC now owns 12,699 shares of the medical technology company’s stock valued at $85,000 after acquiring an additional 5,325 shares in the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

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.