StockNews.com Downgrades Inogen (NASDAQ:INGN) to Hold

Inogen (NASDAQ:INGN) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Inogen in a report on Friday, November 8th.

Inogen Price Performance

INGN traded up $0.17 during trading hours on Friday, reaching $8.48. 183,204 shares of the stock traded hands, compared to its average volume of 318,450. Inogen has a fifty-two week low of $5.08 and a fifty-two week high of $13.33. The company has a market cap of $201.98 million, a price-to-earnings ratio of -3.77 and a beta of 1.02. The firm’s fifty day simple moving average is $9.46 and its two-hundred day simple moving average is $9.72.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in Inogen in the second quarter worth about $30,000. Quarry LP bought a new position in Inogen during the 3rd quarter worth approximately $59,000. Verition Fund Management LLC acquired a new position in shares of Inogen in the 3rd quarter worth approximately $106,000. Virtu Financial LLC bought a new stake in shares of Inogen in the 3rd quarter valued at approximately $111,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Inogen during the 3rd quarter valued at approximately $126,000. 89.94% of the stock is owned by institutional investors and hedge funds.

Inogen Company Profile

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.