Inogen (NASDAQ:INGN) Stock Crosses Below 200 Day Moving Average – Time to Sell?

Inogen, Inc (NASDAQ:INGN) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.33 and traded as low as $5.80. Inogen shares last traded at $5.84, with a volume of 172,700 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inogen in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Inogen has an average rating of “Hold” and a consensus target price of $11.00.

Inogen Stock Down 1.8%

The firm has a market capitalization of $158.54 million, a price-to-earnings ratio of -5.78 and a beta of 1.79. The stock has a 50 day moving average of $6.58 and a 200 day moving average of $7.33.

Inogen (NASDAQ:INGN) last announced its quarterly earnings data on Wednesday, November 5th. The medical technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. Inogen had a negative return on equity of 13.21% and a negative net margin of 7.31%.The firm had revenue of $92.39 million for the quarter, compared to analysts’ expectations of $92.20 million. Analysts predict that Inogen, Inc will post -1.73 earnings per share for the current year.

Hedge Funds Weigh In On Inogen

A number of hedge funds and other institutional investors have recently bought and sold shares of INGN. AQR Capital Management LLC raised its position in shares of Inogen by 30.1% during the 1st quarter. AQR Capital Management LLC now owns 564,032 shares of the medical technology company’s stock worth $4,022,000 after purchasing an additional 130,381 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Inogen in the first quarter worth $85,000. Goldman Sachs Group Inc. increased its position in Inogen by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 284,180 shares of the medical technology company’s stock worth $2,026,000 after buying an additional 41,002 shares during the period. Jane Street Group LLC bought a new stake in Inogen in the first quarter valued at $463,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Inogen by 44.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 20,078 shares of the medical technology company’s stock valued at $150,000 after acquiring an additional 6,220 shares during the period. 89.94% of the stock is currently owned by institutional investors and hedge funds.

Inogen Company Profile

Inogen, Inc (NASDAQ: INGN) is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company’s core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen’s offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen’s flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.