Inogen, Inc. (NASDAQ:INGN) Short Interest Update

Inogen, Inc. (NASDAQ:INGN) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 826,300 shares, a drop of 11.4% from the October 15th total of 932,600 shares. Based on an average daily volume of 190,100 shares, the days-to-cover ratio is currently 4.3 days.

Institutional Investors Weigh In On Inogen

Several institutional investors have recently added to or reduced their stakes in INGN. Vanguard Group Inc. lifted its stake in Inogen by 4.9% in the first quarter. Vanguard Group Inc. now owns 1,424,026 shares of the medical technology company’s stock worth $11,492,000 after purchasing an additional 65,954 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Inogen during the second quarter valued at $457,000. Divisadero Street Capital Management LP grew its holdings in Inogen by 682.3% during the 2nd quarter. Divisadero Street Capital Management LP now owns 2,346,766 shares of the medical technology company’s stock valued at $19,079,000 after buying an additional 2,046,766 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Inogen in the 2nd quarter worth $651,000. Finally, Monaco Asset Management SAM bought a new position in Inogen during the 2nd quarter valued at about $610,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Inogen Trading Down 4.6 %

INGN traded down $0.46 during trading on Monday, reaching $9.59. 121,542 shares of the company’s stock were exchanged, compared to its average volume of 332,662. The stock has a market capitalization of $228.41 million, a PE ratio of -4.43 and a beta of 1.04. Inogen has a one year low of $4.93 and a one year high of $13.33. The firm has a fifty day moving average price of $9.82 and a two-hundred day moving average price of $9.55.

Analysts Set New Price Targets

A number of brokerages have commented on INGN. StockNews.com upgraded Inogen from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Needham & Company LLC reiterated a “hold” rating on shares of Inogen in a research report on Friday, November 8th.

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.