Inogen (NASDAQ:INGN) Stock Passes Above 50 Day Moving Average – Here’s Why

Inogen, Inc (NASDAQ:INGN) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.61 and traded as high as $6.92. Inogen shares last traded at $6.78, with a volume of 178,315 shares changing hands.

Wall Street Analysts Forecast Growth

INGN has been the topic of a number of recent research reports. Freedom Capital raised Inogen to a “strong-buy” rating in a research report on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Inogen Trading Up 0.3%

The company has a 50-day moving average of $6.61 and a 200-day moving average of $6.42. The company has a market capitalization of $183.60 million, a price-to-earnings ratio of -7.45 and a beta of 1.60.

Inogen (NASDAQ:INGN) last issued its quarterly earnings results on Thursday, May 7th. The medical technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.06). The business had revenue of $85.11 million during the quarter, compared to analyst estimates of $82.35 million. Inogen had a negative return on equity of 12.90% and a negative net margin of 7.08%. On average, research analysts expect that Inogen, Inc will post -0.77 EPS for the current year.

Insider Activity

In related news, EVP Boyer Jennifer M. Yi sold 10,770 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $6.53, for a total value of $70,328.10. Following the completion of the transaction, the executive vice president directly owned 15,977 shares of the company’s stock, valued at $104,329.81. This trade represents a 40.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of Inogen

Several large investors have recently bought and sold shares of the stock. Armistice Capital LLC increased 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 in the last quarter. Kent Lake PR LLC lifted its stake in shares of Inogen by 5.7% during the second quarter. Kent Lake PR LLC now owns 1,061,294 shares of the medical technology company’s stock worth $7,461,000 after buying an additional 57,700 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Inogen by 0.8% during the second quarter. Ameriprise Financial Inc. now owns 881,100 shares of the medical technology company’s stock worth $6,194,000 after buying an additional 6,573 shares during the period. Geode Capital Management LLC grew 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. Finally, Royce & Associates LP grew its holdings in shares of Inogen by 15.2% during the third quarter. Royce & Associates LP now owns 600,968 shares of the medical technology company’s stock valued at $4,910,000 after buying an additional 79,238 shares during the last quarter. Hedge funds and other institutional investors 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.