Inogen (NASDAQ:INGN) Stock Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• Inogen shares broke above their 50-day moving average, reaching $6.28 and last trading at $6.18, up 4.0%. The stock’s 50-day average is $5.61, versus a 200-day average of $6.22.
• Analyst sentiment is mixed: Weiss Ratings maintained a “sell (D-)” rating, while MarketBeat’s overall consensus is “Moderate Buy,” based on one Strong Buy and one Sell rating.
• Inogen slightly beat quarterly EPS expectations, reporting a loss of $0.14 per share versus the projected $0.15 loss, while revenue of $95.08 million was just below estimates. Institutional investors own approximately 89.94% of the company.

Shares of Inogen, Inc (NASDAQ:INGN - Get Free Report) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $5.61 and traded as high as $6.28. Inogen shares last traded at $6.18, with a volume of 243,801 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Inogen Trading Up 4.0%

The business's fifty day simple moving average is $5.61 and its 200 day simple moving average is $6.22. The stock has a market cap of $164.02 million, a price-to-earnings ratio of -6.87 and a beta of 1.50.

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

Institutional Trading of Inogen

A number of institutional investors and hedge funds have recently modified their holdings of INGN. BlackRock Inc. acquired a new stake in Inogen in the second quarter worth $11,281,000. Armistice Capital LLC increased its position in shares of Inogen by 46.3% in the 4th quarter. Armistice Capital LLC now owns 1,264,000 shares of the medical technology company's stock valued at $8,494,000 after buying an additional 400,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake 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 worth $3,622,000 after buying an additional 393,310 shares during the period. Moore Capital Management LP lifted its holdings in Inogen by 3.3% during the second quarter. Moore Capital Management LP now owns 289,128 shares of the medical technology company's stock worth $1,865,000 after acquiring an additional 9,229 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new position in Inogen in the second quarter valued at about $1,718,000. 89.94% of the stock is 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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