Inogen (NASDAQ:INGN) Stock Crosses Above Fifty Day Moving Average - Here's Why

Inogen, Inc (NASDAQ:INGN - Get Free Report)'s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.67 and traded as high as $7.61. Inogen shares last traded at $7.31, with a volume of 126,219 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Needham & Company LLC upgraded 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. B. Riley began coverage on shares of Inogen in a research report on Monday, June 16th. They issued a "buy" rating and a $14.00 price objective on the stock. Finally, Stifel Nicolaus cut their price objective on shares of Inogen from $10.00 to $7.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th.

Inogen Stock Performance

The firm has a market cap of $180.41 million, a price-to-earnings ratio of -5.83 and a beta of 1.66. The stock's 50 day simple moving average is $6.66 and its 200-day simple moving average is $8.03.

Inogen (NASDAQ:INGN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The medical technology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.52) by $0.27. Inogen had a negative net margin of 8.08% and a negative return on equity of 14.76%. The business had revenue of $82.28 million for the quarter, compared to analyst estimates of $79.57 million. On average, analysts expect that Inogen, Inc will post -1.73 EPS for the current fiscal year.

Institutional Trading of Inogen

Several large investors have recently made changes to their positions in INGN. Price T Rowe Associates Inc. MD boosted its holdings in Inogen by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,710 shares of the medical technology company's stock worth $245,000 after buying an additional 1,318 shares in the last quarter. Invesco Ltd. boosted its holdings in Inogen by 2.0% during the fourth quarter. Invesco Ltd. now owns 78,142 shares of the medical technology company's stock worth $717,000 after buying an additional 1,545 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Inogen by 1.4% during the first quarter. Cubist Systematic Strategies LLC now owns 124,993 shares of the medical technology company's stock worth $891,000 after buying an additional 1,751 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Inogen by 27.8% during the fourth 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 in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Inogen by 2.7% during the fourth quarter. Bank of America Corp DE now owns 127,326 shares of the medical technology company's stock worth $1,168,000 after buying an additional 3,304 shares in the last quarter. 89.94% of the stock is owned by hedge funds and other institutional investors.

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.