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

Inogen, Inc. (NASDAQ:INGN)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.46 and traded as high as $10.33. Inogen shares last traded at $10.33, with a volume of 212,332 shares changing hands.

Wall Street Analyst Weigh In

INGN has been the topic of a number of recent research reports. StockNews.com cut shares of Inogen from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a report on Friday, November 8th.

Inogen Trading Up 8.2 %

The company has a market capitalization of $246.04 million, a price-to-earnings ratio of -4.59 and a beta of 1.02. The firm’s 50 day simple moving average is $9.46 and its 200-day simple moving average is $9.88.

Hedge Funds Weigh In On Inogen

Institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in shares of Inogen during the 2nd quarter worth $30,000. Quarry LP purchased a new stake in shares of Inogen during the 3rd quarter worth $59,000. Verition Fund Management LLC purchased a new stake in shares of Inogen during the 3rd quarter worth $106,000. Virtu Financial LLC purchased a new stake in shares of Inogen during the 3rd quarter worth $111,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Inogen during the 3rd quarter worth $126,000. 89.94% of the stock is owned by institutional investors and hedge funds.

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.