Inogen (NASDAQ:INGN) Stock Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• Inogen's stock price surpassed its 50-day moving average, closing at $7.58, which indicates recent positive trading momentum.
• Analysts have mixed ratings, with Stifel Nicolaus reducing their target price from $10.00 to $7.00, while Needham & Company raised it to $12.00.
• Inogen reported a quarterly earnings beat with a revenue of $92.28 million, exceeding analyst expectations of $90.40 million, but continues to show a negative net margin of 7.58%.

Shares of Inogen, Inc (NASDAQ:INGN - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.73 and traded as high as $7.76. Inogen shares last traded at $7.58, with a volume of 428,143 shares.

Analyst Ratings Changes

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

Inogen Stock Performance

The business's fifty day simple moving average is $6.80 and its 200-day simple moving average is $7.46. The firm has a market capitalization of $201.72 million, a PE ratio of -7.04 and a beta of 1.72.

Inogen (NASDAQ:INGN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The medical technology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.07. The business had revenue of $92.28 million during the quarter, compared to analyst estimates of $90.40 million. Inogen had a negative net margin of 7.58% and a negative return on equity of 13.77%. Sell-side analysts expect that Inogen, Inc will post -1.73 earnings per share for the current fiscal year.

Institutional Trading of Inogen

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Inogen by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,710 shares of the medical technology company's stock worth $245,000 after acquiring an additional 1,318 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Inogen by 2.0% during the 4th quarter. Invesco Ltd. now owns 78,142 shares of the medical technology company's stock worth $717,000 after purchasing an additional 1,545 shares during the period. CWM LLC grew its holdings in shares of Inogen by 11.0% during the 2nd quarter. CWM LLC now owns 16,258 shares of the medical technology company's stock worth $114,000 after purchasing an additional 1,611 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Inogen by 1.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 124,993 shares of the medical technology company's stock worth $891,000 after purchasing an additional 1,751 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Inogen by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 39,059 shares of the medical technology company's stock valued at $275,000 after acquiring an additional 2,561 shares during the period. 89.94% of the stock is currently owned by institutional investors.

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.