Inogen, Inc. (NASDAQ:INGN) Sees Large Increase in Short Interest

Inogen, Inc. (NASDAQ:INGN) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 492,900 shares, a growth of 7.3% from the August 15th total of 459,300 shares. Based on an average daily volume of 400,500 shares, the short-interest ratio is currently 1.2 days.

Institutional Investors Weigh In On Inogen

A number of institutional investors and hedge funds have recently modified their holdings of INGN. Legal & General Group Plc lifted its stake in shares of Inogen by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 57,104 shares of the medical technology company’s stock valued at $1,380,000 after purchasing an additional 434 shares during the period. Captrust Financial Advisors lifted its stake in Inogen by 124.7% in the first quarter. Captrust Financial Advisors now owns 993 shares of the medical technology company’s stock valued at $32,000 after buying an additional 551 shares during the period. US Bancorp DE boosted its holdings in Inogen by 273.0% during the first quarter. US Bancorp DE now owns 884 shares of the medical technology company’s stock worth $28,000 after buying an additional 647 shares during the last quarter. Credit Suisse AG grew its position in shares of Inogen by 4.4% during the 3rd quarter. Credit Suisse AG now owns 16,727 shares of the medical technology company’s stock worth $406,000 after buying an additional 705 shares during the period. Finally, American International Group Inc. grew its holdings in Inogen by 7.6% during the second quarter. American International Group Inc. now owns 12,276 shares of the medical technology company’s stock valued at $297,000 after purchasing an additional 869 shares during the period. 93.15% of the stock is owned by institutional investors.

Inogen Stock Performance

NASDAQ INGN opened at $5.40 on Tuesday. The stock has a market capitalization of $125.23 million, a P/E ratio of -1.29 and a beta of 0.98. Inogen has a 52 week low of $5.38 and a 52 week high of $26.83. The stock has a fifty day moving average of $7.08 and a 200-day moving average of $10.28.

Inogen (NASDAQ:INGN) last announced its quarterly earnings data on Monday, August 7th. The medical technology company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.22. The firm had revenue of $83.64 million during the quarter, compared to analyst estimates of $92.20 million. Inogen had a negative return on equity of 14.95% and a negative net margin of 27.57%. The company’s revenue was down 19.1% on a year-over-year basis. During the same period last year, the company earned ($0.02) earnings per share. Equities research analysts forecast that Inogen will post -2.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INGN has been the topic of several research analyst reports. Stifel Nicolaus decreased their price objective on shares of Inogen from $15.00 to $8.00 and set a “hold” rating on the stock in a research note on Tuesday, August 8th. StockNews.com started coverage on Inogen in a research note on Thursday, August 17th. They issued a “sell” rating for the company. JPMorgan Chase & Co. downgraded shares of Inogen from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $8.00 in a research report on Tuesday, August 8th. Finally, Needham & Company LLC cut shares of Inogen from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.00.

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.