Inogen (NASDAQ:INGN) Stock Price Breaks Below Two Hundred Day Moving Average – Here’s Why

Inogen, Inc (NASDAQ:INGN)’s stock price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $6.26 and traded as low as $5.05. Inogen shares last traded at $5.09, with a volume of 530,331 shares changing hands.

Analyst Ratings Changes

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 given a Sell rating to the company. Based on data from MarketBeat.com, Inogen has an average rating of “Moderate Buy”.

Inogen Trading Up 2.5%

The stock has a market cap of $142.24 million, a price-to-earnings ratio of -5.96 and a beta of 1.57. The company has a 50 day simple moving average of $5.76 and a 200-day simple moving average of $6.25.

Inogen (NASDAQ:INGN) last announced 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 business had revenue of $95.08 million for the quarter, compared to analyst estimates of $95.23 million. Inogen had a negative return on equity of 13.17% and a negative net margin of 6.94%.

Insider Activity at Inogen

In other news, EVP Jennifer Yi Boyer sold 10,938 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $6.60, for a total value of $72,190.80. Following the sale, the executive vice president owned 5,039 shares of the company’s stock, valued at $33,257.40. The trade was a 68.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Inogen

Several hedge funds have recently modified their holdings of INGN. BlackRock Inc. bought a new stake in Inogen during the second quarter worth about $11,281,000. Armistice Capital LLC grew its stake in Inogen by 46.3% in the fourth quarter. Armistice Capital LLC now owns 1,264,000 shares of the medical technology company’s stock valued at $8,494,000 after purchasing an additional 400,000 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of 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 purchasing an additional 393,310 shares during the last quarter. Moore Capital Management LP increased its position in shares of Inogen by 3.3% during the 2nd quarter. Moore Capital Management LP now owns 289,128 shares of the medical technology company’s stock worth $1,865,000 after purchasing an additional 9,229 shares during the last quarter. Finally, Readystate Asset Management LP bought a new stake in shares of Inogen during the 2nd quarter worth approximately $1,718,000. Institutional investors own 89.94% of the company’s stock.

About Inogen

Inogen, Inc is a medical technology company that develops, manufactures and distributes oxygen therapy products for people with chronic respiratory conditions. Its offerings are designed to provide supplemental oxygen outside traditional clinical settings, including at home and while traveling.

The company is best known for its Inogen One family of portable oxygen concentrators, which extract oxygen from ambient air and deliver it to patients without requiring refillable oxygen tanks. Inogen also offers stationary oxygen concentrators, accessories and related services, including equipment support and rental programs.

Founded in 2001 and headquartered in Goleta, California, Inogen serves customers through direct-to-consumer sales, health care providers and distributors.