Inogen (NASDAQ:INGN) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Inogen, Inc (NASDAQ:INGN) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $6.23 and traded as low as $5.54. Inogen shares last traded at $5.98, with a volume of 1,104,957 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Inogen has an average rating of “Moderate Buy”.

Inogen Trading Down 0.2%

The business’s 50 day moving average price is $5.66 and its two-hundred day moving average price is $6.23. The stock has a market cap of $158.44 million, a P/E ratio of -6.63 and a beta of 1.50.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in INGN. BlackRock Inc. bought a new position in Inogen in the second quarter worth $11,281,000. Armistice Capital LLC boosted its holdings in shares of 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 buying an additional 400,000 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Inogen by 203.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 586,159 shares of the medical technology company’s stock valued at $3,622,000 after buying an additional 393,310 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of Inogen in the 2nd quarter worth about $1,718,000. Finally, Monaco Asset Management SAM purchased a new stake in shares of Inogen in the 2nd quarter worth about $1,037,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

About Inogen

Inogen, Inc is a medical technology company that develops, manufactures and distributes oxygen therapy products for people with chronic respiratory conditions. Its offerings are designed to provide supplemental oxygen outside traditional clinical settings, including at home and while traveling.

The company is best known for its Inogen One family of portable oxygen concentrators, which extract oxygen from ambient air and deliver it to patients without requiring refillable oxygen tanks. Inogen also offers stationary oxygen concentrators, accessories and related services, including equipment support and rental programs.

Founded in 2001 and headquartered in Goleta, California, Inogen serves customers through direct-to-consumer sales, health care providers and distributors.