Inogen (NASDAQ:INGN) Share Price Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• Inogen shares rose 4.8%, trading at $6.55 after moving above the 50-day moving average of $5.60, though they remained below the 200-day average of $6.22.
• Analyst sentiment is mixed: one analyst rates the stock Strong Buy, another rates it Sell, while Weiss Ratings reiterated a “sell (D-)” rating. MarketBeat classifies the overall consensus as “Moderate Buy.”
• Inogen narrowly beat quarterly EPS expectations, reporting a loss of $0.14 per share versus the expected $0.15 loss, while revenue of $95.08 million slightly missed estimates. Institutional investors own 89.94% of the company’s shares.

Inogen, Inc (NASDAQ:INGN - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $5.60 and traded as high as $6.59. Inogen shares last traded at $6.55, with a volume of 235,192 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Inogen in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Inogen Stock Up 4.8%

The firm has a market cap of $173.84 million, a PE ratio of -7.28 and a beta of 1.50. The business has a 50 day simple moving average of $5.60 and a two-hundred day simple moving average of $6.22.

Inogen (NASDAQ:INGN - Get Free Report) last issued its earnings results on Thursday, August 6th. The medical technology company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. The firm had revenue of $95.08 million during the quarter, compared to analyst estimates of $95.23 million. Inogen had a negative net margin of 6.94% and a negative return on equity of 13.17%.

Hedge Funds Weigh In On Inogen

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Inogen in the second quarter worth approximately $11,281,000. Readystate Asset Management LP purchased a new position in Inogen during the 2nd quarter worth $1,718,000. Bank of New York Mellon Corp purchased a new position in Inogen during the 2nd quarter worth $764,000. Arrowstreet Capital Limited Partnership raised its position in Inogen by 203.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 586,159 shares of the medical technology company's stock valued at $3,622,000 after purchasing an additional 393,310 shares in the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in Inogen during the 2nd quarter valued at $602,000. 89.94% of the stock is currently owned by institutional investors.

Inogen Company Profile

Inogen, Inc is a medical technology company that develops, manufactures and markets oxygen therapy products for people with chronic respiratory conditions. The company focuses primarily on oxygen concentrators, which extract oxygen from ambient air and deliver supplemental oxygen without requiring traditional compressed-gas or liquid-oxygen tanks.

Its product portfolio has included the Inogen One family of portable oxygen concentrators, designed to support mobility and independence, as well as stationary oxygen concentrators such as the Inogen At Home system.

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