Inogen (NASDAQ:INGN) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Inogen, Inc (NASDAQ:INGN)’s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.48 and traded as high as $6.56. Inogen shares last traded at $6.40, with a volume of 266,825 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Freedom Capital upgraded Inogen to a “strong-buy” rating in a research report on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Inogen currently has an average rating of “Moderate Buy”.

Inogen Price Performance

The firm has a 50-day moving average of $6.48 and a 200 day moving average of $6.40. The company has a market capitalization of $173.31 million, a PE ratio of -7.03 and a beta of 1.58.

Inogen (NASDAQ:INGN) last posted its earnings results on Thursday, May 7th. The medical technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.06). Inogen had a negative net margin of 7.08% and a negative return on equity of 12.90%. The company had revenue of $85.11 million for the quarter, compared to the consensus estimate of $82.35 million. Equities analysts expect that Inogen, Inc will post -0.77 EPS for the current year.

Insider Buying and Selling

In other Inogen news, EVP Boyer Jennifer M. Yi sold 10,938 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $6.60, for a total transaction of $72,190.80. Following the completion of the sale, the executive vice president directly owned 5,039 shares in the company, valued at approximately $33,257.40. The trade was a 68.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Inogen

A number of large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Inogen in the 4th quarter worth $27,000. Torren Management LLC purchased a new position in shares of Inogen during the fourth quarter valued at about $51,000. Prelude Capital Management LLC purchased a new stake in shares of Inogen in the third quarter worth about $82,000. Corient Private Wealth LLC bought a new position in shares of Inogen during the 4th quarter valued at approximately $84,000. Finally, MetLife Investment Management LLC lifted its position in Inogen by 72.2% during the fourth quarter. MetLife Investment Management LLC now owns 12,699 shares of the medical technology company’s stock valued at $85,000 after purchasing an additional 5,325 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors.

Inogen Company Profile

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.