Inogen, Inc. (NASDAQ:INGN) Short Interest Up 7.7% in April

Inogen, Inc. (NASDAQ:INGN) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 1,820,000 shares, an increase of 7.7% from the March 31st total of 1,690,000 shares. Based on an average daily volume of 536,700 shares, the short-interest ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INGN. Needham & Company LLC reiterated a “hold” rating on shares of Inogen in a report on Tuesday, April 9th. William Blair upgraded Inogen from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Inogen presently has an average rating of “Hold” and an average price target of $7.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Meros Investment Management LP boosted its stake in shares of Inogen by 14.9% during the third quarter. Meros Investment Management LP now owns 589,604 shares of the medical technology company’s stock valued at $3,078,000 after purchasing an additional 76,294 shares during the period. Kent Lake Capital LLC purchased a new stake in shares of Inogen in the third quarter worth $2,418,000. Acadian Asset Management LLC grew its stake in shares of Inogen by 195.6% in the third quarter. Acadian Asset Management LLC now owns 389,792 shares of the medical technology company’s stock worth $2,033,000 after acquiring an additional 257,940 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Inogen by 26.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 285,176 shares of the medical technology company’s stock worth $1,566,000 after acquiring an additional 59,446 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Inogen by 347.2% in the fourth quarter. Federated Hermes Inc. now owns 265,485 shares of the medical technology company’s stock worth $1,458,000 after acquiring an additional 206,125 shares during the last quarter. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Inogen Price Performance

Shares of Inogen stock opened at $7.05 on Thursday. Inogen has a 1 year low of $4.13 and a 1 year high of $14.10. The firm has a market cap of $166.03 million, a PE ratio of -1.60 and a beta of 1.06. The stock has a fifty day moving average price of $7.24 and a 200-day moving average price of $6.42.

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

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.