Inogen (NASDAQ:INGN) Stock Price Crosses Above 50 Day Moving Average - Should You Sell?

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%.

Inogen, Inc (NASDAQ:INGN - Get Free Report)'s stock price passed 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.

Wall Street Analysts Forecast Growth

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

Inogen Trading Down 2.7%

The company has a market cap of $201.72 million, a P/E ratio of -7.04 and a beta of 1.72. The business's fifty day moving average is $6.80 and its 200 day moving average is $7.43.

Inogen (NASDAQ:INGN - Get Free Report) last issued its earnings results 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. Inogen had a negative net margin of 7.58% and a negative return on equity of 13.77%. The business had revenue of $92.28 million for the quarter, compared to analysts' expectations of $90.40 million. As a group, research analysts expect that Inogen, Inc will post -1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Inogen

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Inogen by 5,738.9% in the first 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 period. Integrated Wealth Concepts LLC bought a new position in shares of Inogen in the first quarter worth $85,000. Algert Global LLC bought a new position in shares of Inogen in the first quarter worth $89,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Inogen in the second quarter worth $90,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Inogen in the first quarter worth $99,000. Institutional investors own 89.94% of the company's stock.

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.