Monaco Asset Management SAM Raises Position in Inogen, Inc (NASDAQ:INGN)

Key Points

• Monaco Asset Management SAM has significantly increased its stock position in Inogen, Inc by 119.1%, now owning approximately $1.20 million in shares.
• Several other hedge funds have increased their stakes in Inogen, resulting in institutional investors owning 89.94% of the company’s stock.
• Inogen's stock is currently trading at $6.60, with recent performance showing a negative earnings per share of ($0.25), despite beating analysts' estimates.

Monaco Asset Management SAM raised its position in Inogen, Inc (NASDAQ:INGN - Free Report) by 119.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 167,594 shares of the medical technology company's stock after buying an additional 91,094 shares during the period. Monaco Asset Management SAM owned 0.62% of Inogen worth $1,195,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Inogen by 5,738.9% during the 1st quarter. GAMMA Investing LLC now owns 5,547 shares of the medical technology company's stock worth $400,000 after purchasing an additional 5,452 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Inogen in the 4th quarter worth approximately $56,000. Integrated Quantitative Investments LLC bought a new position in Inogen in the 4th quarter worth approximately $92,000. Wealth Enhancement Advisory Services LLC bought a new position in Inogen in the 1st quarter worth approximately $99,000. Finally, Wells Fargo & Company MN boosted its holdings in Inogen by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 13,917 shares of the medical technology company's stock worth $128,000 after buying an additional 3,031 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.

Inogen Price Performance

NASDAQ:INGN traded down $0.10 during trading hours on Friday, hitting $6.21. The stock had a trading volume of 444,994 shares, compared to its average volume of 169,161. The company has a 50 day simple moving average of $6.71 and a two-hundred day simple moving average of $7.75. Inogen, Inc has a one year low of $5.70 and a one year high of $13.33. The firm has a market capitalization of $166.97 million, a price-to-earnings ratio of -5.40 and a beta of 1.72.

Inogen (NASDAQ:INGN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The medical technology company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.27. The firm had revenue of $82.28 million for the quarter, compared to analysts' expectations of $79.57 million. Inogen had a negative net margin of 8.08% and a negative return on equity of 14.76%. Equities research analysts anticipate that Inogen, Inc will post -1.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on INGN shares. B. Riley started coverage on shares of Inogen in a report on Monday, June 16th. They issued a "buy" rating and a $14.00 price objective for the company. Stifel Nicolaus cut their price objective on shares of Inogen from $10.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Finally, Needham & Company LLC raised shares of Inogen from a "hold" rating to a "moderate buy" rating and set a $12.00 price target for the company in a report on Thursday, May 22nd.

Inogen 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.