Inogen (NASDAQ:INGN) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Inogen, Inc (NASDAQ:INGN) crossed 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 changing hands.

Wall Street Analyst Weigh In

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 stock. According to MarketBeat, Inogen presently has an average rating of “Moderate Buy”.

Inogen Stock Up 4.0%

The firm has a 50-day moving average of $5.61 and a two-hundred day moving average of $6.22. The company has a market capitalization of $164.02 million, a PE ratio of -6.87 and a beta of 1.50.

Inogen (NASDAQ:INGN) last posted its earnings results on Thursday, August 6th. The medical technology company reported ($0.14) EPS 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

Several institutional investors and hedge funds have recently bought and sold shares of INGN. Integrated Wealth Concepts LLC boosted its stake in Inogen by 18.3% during the second quarter. Integrated Wealth Concepts LLC now owns 16,728 shares of the medical technology company’s stock worth $108,000 after buying an additional 2,585 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Inogen by 15.5% during the first quarter. Assenagon Asset Management S.A. now owns 51,028 shares of the medical technology company’s stock valued at $315,000 after acquiring an additional 6,843 shares during the last quarter. Moore Capital Management LP increased its position in shares of Inogen by 3.3% during the second quarter. Moore Capital Management LP now owns 289,128 shares of the medical technology company’s stock valued at $1,865,000 after acquiring an additional 9,229 shares during the last quarter. IMC Chicago LLC purchased a new stake in shares of Inogen in the 2nd quarter valued at approximately $95,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Inogen in the 2nd quarter valued at approximately $117,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

About Inogen

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.