Inogen (NASDAQ:INGN) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Inogen, Inc (NASDAQ:INGN) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.35 and traded as low as $5.33. Inogen shares last traded at $5.37, with a volume of 306,551 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Inogen Stock Performance

The company has a market cap of $142.65 million, a price-to-earnings ratio of -5.97 and a beta of 1.58. The stock’s fifty day moving average is $6.23 and its two-hundred day moving average is $6.34.

Inogen (NASDAQ:INGN) last posted its earnings results on Thursday, August 6th. The medical technology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $95.08 million for the quarter, compared to analyst estimates of $95.23 million. Inogen had a negative return on equity of 13.17% and a negative net margin of 6.94%.

Insider Buying and Selling at Inogen

In other news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total value of $72,190.80. Following the completion of the transaction, the executive vice president directly owned 5,039 shares of the company’s stock, valued at $33,257.40. This represents a 68.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Inogen

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Inogen during the 2nd quarter valued at approximately $11,281,000. Armistice Capital LLC increased its stake in Inogen by 46.3% in the 4th quarter. Armistice Capital LLC now owns 1,264,000 shares of the medical technology company’s stock worth $8,494,000 after acquiring an additional 400,000 shares during the last quarter. Kent Lake PR LLC raised its holdings in shares of Inogen by 5.7% in the 2nd quarter. Kent Lake PR LLC now owns 1,061,294 shares of the medical technology company’s stock valued at $7,461,000 after acquiring an additional 57,700 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Inogen by 0.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 881,100 shares of the medical technology company’s stock valued at $6,194,000 after acquiring an additional 6,573 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Inogen by 7.9% during the 2nd quarter. Geode Capital Management LLC now owns 615,279 shares of the medical technology company’s stock valued at $4,326,000 after acquiring an additional 44,860 shares during the last quarter. 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.