Inogen, Inc. (NASDAQ:INGN) Sees Significant Decrease in Short Interest

Inogen, Inc. (NASDAQ:INGN) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 714,200 shares, a drop of 6.2% from the December 15th total of 761,300 shares. Based on an average daily volume of 187,000 shares, the days-to-cover ratio is presently 3.8 days.

Inogen Stock Performance

Shares of INGN opened at $10.47 on Monday. The firm has a market cap of $249.40 million, a PE ratio of -4.65 and a beta of 1.02. Inogen has a 52-week low of $5.08 and a 52-week high of $13.33. The business’s 50 day moving average price is $9.53 and its two-hundred day moving average price is $9.96.

Wall Street Analysts Forecast Growth

INGN has been the topic of a number of analyst reports. StockNews.com lowered shares of Inogen from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a research report on Tuesday, January 14th.

Hedge Funds Weigh In On Inogen

A number of institutional investors and hedge funds have recently made changes to their positions in INGN. Bank of New York Mellon Corp raised its stake in Inogen by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,132 shares of the medical technology company’s stock worth $790,000 after buying an additional 7,240 shares during the period. American Century Companies Inc. raised its position in shares of Inogen by 33.2% during the second quarter. American Century Companies Inc. now owns 38,627 shares of the medical technology company’s stock worth $314,000 after purchasing an additional 9,626 shares during the period. XTX Topco Ltd bought a new position in shares of Inogen in the 2nd quarter worth $178,000. Divisadero Street Capital Management LP grew its position in Inogen by 682.3% in the 2nd quarter. Divisadero Street Capital Management LP now owns 2,346,766 shares of the medical technology company’s stock valued at $19,079,000 after purchasing an additional 2,046,766 shares during the period. Finally, AQR Capital Management LLC increased its stake in Inogen by 29.3% during the 2nd quarter. AQR Capital Management LLC now owns 570,994 shares of the medical technology company’s stock valued at $4,642,000 after purchasing an additional 129,307 shares in 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.