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

Inogen, Inc (NASDAQ:INGN - Get Free Report) 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 research analysts have issued reports on INGN shares. B. Riley started coverage on Inogen in a report on Monday, June 16th. They issued a "buy" rating and a $14.00 price target on the stock. Stifel Nicolaus lowered 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. Finally, Needham & Company LLC upgraded shares of Inogen from a "hold" rating to a "moderate buy" rating and set a $12.00 price objective on the stock in a research report on Thursday, May 22nd.

Inogen Trading Down 2.5%

The stock has a market capitalization of $196.57 million, a PE ratio of -6.36 and a beta of 1.66. The firm's 50-day simple moving average is $6.67 and its two-hundred day simple moving average is $8.05.

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, topping the consensus estimate 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 firm had revenue of $82.28 million for the quarter, compared to analysts' expectations of $79.57 million. As a group, research analysts expect that Inogen, Inc will post -1.73 earnings per share for the current year.

Hedge Funds Weigh In On Inogen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its holdings in Inogen by 35.7% in the first quarter. Acadian Asset Management LLC now owns 1,028,322 shares of the medical technology company's stock worth $7,325,000 after purchasing an additional 270,453 shares in the last quarter. Royce & Associates LP boosted its holdings in Inogen by 499.7% in the fourth quarter. Royce & Associates LP now owns 311,199 shares of the medical technology company's stock worth $2,854,000 after purchasing an additional 259,308 shares in the last quarter. DAFNA Capital Management LLC boosted its holdings in Inogen by 119.4% in the first quarter. DAFNA Capital Management LLC now owns 458,065 shares of the medical technology company's stock worth $3,266,000 after purchasing an additional 249,275 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Inogen by 141.5% in the fourth quarter. Prudential Financial Inc. now owns 360,002 shares of the medical technology company's stock worth $3,301,000 after purchasing an additional 210,961 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Inogen by 154.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 263,561 shares of the medical technology company's stock worth $2,417,000 after purchasing an additional 160,106 shares in the last quarter. 89.94% of the stock is currently 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.

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