Inogen, Inc. (NASDAQ:INGN) Sees Significant Decrease in Short Interest

Inogen, Inc. (NASDAQ:INGN - Get Free Report) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 1,690,000 shares, a drop of 9.6% from the March 15th total of 1,870,000 shares. Based on an average daily trading volume, of 616,700 shares, the days-to-cover ratio is currently 2.7 days.

Inogen Trading Down 2.7 %

Shares of NASDAQ:INGN traded down $0.20 on Monday, reaching $7.16. 309,033 shares of the company traded hands, compared to its average volume of 587,675. The stock has a market capitalization of $167.04 million, a P/E ratio of -1.62 and a beta of 1.06. The business's 50-day simple moving average is $7.70 and its 200 day simple moving average is $6.26. Inogen has a 52 week low of $4.13 and a 52 week high of $14.10.

Inogen (NASDAQ:INGN - Get Free Report) last issued its earnings results on Tuesday, February 27th. The medical technology company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.49). The company had revenue of $75.90 million for the quarter, compared to analysts' expectations of $78.09 million. Inogen had a negative net margin of 32.46% and a negative return on equity of 38.98%. Sell-side analysts expect that Inogen will post -2.56 EPS for the current fiscal year.

Institutional Trading of Inogen

A number of institutional investors have recently made changes to their positions in INGN. US Bancorp DE raised its holdings in Inogen by 273.0% during the 1st quarter. US Bancorp DE now owns 884 shares of the medical technology company's stock valued at $28,000 after buying an additional 647 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Inogen by 124.7% in the first quarter. Captrust Financial Advisors now owns 993 shares of the medical technology company's stock valued at $32,000 after acquiring an additional 551 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Inogen by 74.0% during the third quarter. Tower Research Capital LLC TRC now owns 2,487 shares of the medical technology company's stock valued at $60,000 after acquiring an additional 1,058 shares during the last quarter. Point72 Middle East FZE boosted its holdings in shares of Inogen by 225.2% during the second quarter. Point72 Middle East FZE now owns 3,681 shares of the medical technology company's stock worth $43,000 after purchasing an additional 2,549 shares during the period. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of Inogen by 3,054.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,722 shares of the medical technology company's stock worth $119,000 after purchasing an additional 3,604 shares during the period. Hedge funds and other institutional investors own 89.94% of the company's stock.

Wall Street Analysts Forecast Growth

INGN has been the subject of several research analyst reports. William Blair raised Inogen from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Inogen in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Inogen has a consensus rating of "Hold" and an average price target of $13.67.

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.