Inogen (NASDAQ:INGN) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Inogen (NASDAQ:INGN) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a research note on Friday, November 8th.

Inogen Price Performance

Shares of INGN stock opened at $9.38 on Thursday. The company has a market cap of $223.43 million, a PE ratio of -4.17 and a beta of 1.04. Inogen has a 1 year low of $4.93 and a 1 year high of $13.33. The stock’s 50 day simple moving average is $9.62 and its two-hundred day simple moving average is $9.61.

Institutional Trading of Inogen

Several institutional investors and hedge funds have recently modified their holdings of INGN. Meeder Asset Management Inc. bought a new stake in Inogen during the 2nd quarter valued at $30,000. CWM LLC lifted its stake in Inogen by 2,185.9% in the second quarter. CWM LLC now owns 6,629 shares of the medical technology company’s stock worth $54,000 after acquiring an additional 6,339 shares during the period. Quarry LP purchased a new stake in Inogen in the third quarter worth about $59,000. Pitcairn Co. bought a new position in Inogen during the 1st quarter worth about $86,000. Finally, Verition Fund Management LLC purchased a new position in Inogen during the 3rd quarter valued at about $106,000. 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.