Inogen (NASDAQ:INGN) Stock Passes Below 200 Day Moving Average – Here’s Why

Inogen, Inc. (NASDAQ:INGN)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.22 and traded as low as $9.03. Inogen shares last traded at $9.19, with a volume of 123,375 shares traded.

Analysts Set New Price Targets

INGN has been the subject of a number of recent research reports. StockNews.com raised Inogen from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Needham & Company LLC reissued a “hold” rating on shares of Inogen in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

Inogen Stock Performance

The firm has a fifty day moving average price of $10.80 and a 200 day moving average price of $9.22. The firm has a market capitalization of $216.67 million, a price-to-earnings ratio of -2.21 and a beta of 1.04.

Inogen (NASDAQ:INGN) last released its quarterly earnings data on Tuesday, August 6th. The medical technology company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.31. Inogen had a negative return on equity of 45.37% and a negative net margin of 28.30%. The firm had revenue of $88.77 million during the quarter, compared to the consensus estimate of $82.50 million. During the same period last year, the business posted ($0.42) EPS. Inogen’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts predict that Inogen, Inc. will post -1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inogen

Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in Inogen in the 2nd quarter valued at approximately $30,000. PNC Financial Services Group Inc. increased its position in Inogen by 2,918.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,908 shares of the medical technology company’s stock worth $43,000 after buying an additional 7,646 shares in the last quarter. CWM LLC increased its position in Inogen by 2,185.9% during the second quarter. CWM LLC now owns 6,629 shares of the medical technology company’s stock worth $54,000 after buying an additional 6,339 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Inogen during the first quarter worth $81,000. Finally, Pitcairn Co. purchased a new position in Inogen during the first quarter worth $86,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

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.