Inogen (NASDAQ:INGN) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Inogen, Inc. (NASDAQ:INGN)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Analysts Set New Price Targets

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

Inogen Price Performance

The stock has a market cap of $218.32 million, a price-to-earnings ratio of -2.27 and a beta of 1.04. The business has a 50-day simple moving average of $10.74 and a two-hundred day simple moving average of $9.22.

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

Institutional Trading of Inogen

A number of institutional investors have recently bought and sold shares of INGN. Divisadero Street Capital Management LP grew its position in Inogen by 682.3% during the second quarter. Divisadero Street Capital Management LP now owns 2,346,766 shares of the medical technology company’s stock worth $19,079,000 after buying an additional 2,046,766 shares in the last quarter. Brown Capital Management LLC grew its holdings in shares of Inogen by 26.6% during the 1st quarter. Brown Capital Management LLC now owns 1,975,312 shares of the medical technology company’s stock worth $15,941,000 after purchasing an additional 414,903 shares in the last quarter. AQR Capital Management LLC raised its stake in Inogen by 29.3% in the second quarter. AQR Capital Management LLC now owns 570,994 shares of the medical technology company’s stock valued at $4,642,000 after purchasing an additional 129,307 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Inogen during the second quarter worth about $651,000. Finally, Monaco Asset Management SAM bought a new position in Inogen in the 2nd quarter valued at about $610,000. Institutional investors own 89.94% of the company’s stock.

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.