Inogen (NASDAQ:INGN) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Inogen, Inc. (NASDAQ:INGN)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.46 and traded as high as $10.33. Inogen shares last traded at $10.33, with a volume of 212,332 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on INGN shares. Needham & Company LLC reiterated a “hold” rating on shares of Inogen in a research note on Friday, November 8th. StockNews.com downgraded shares of Inogen from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

Inogen Price Performance

The business’s 50 day moving average is $9.46 and its 200-day moving average is $9.88. The company has a market cap of $246.04 million, a PE ratio of -4.59 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP raised its holdings in Inogen by 682.3% during the second quarter. Divisadero Street Capital Management LP now owns 2,346,766 shares of the medical technology company’s stock worth $19,079,000 after purchasing an additional 2,046,766 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Inogen by 2.7% during the third quarter. JPMorgan Chase & Co. now owns 896,106 shares of the medical technology company’s stock worth $8,692,000 after purchasing an additional 23,891 shares in the last quarter. AQR Capital Management LLC raised its holdings in Inogen by 29.3% during the second quarter. AQR Capital Management LLC now owns 570,994 shares of the medical technology company’s stock worth $4,642,000 after purchasing an additional 129,307 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Inogen by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 554,191 shares of the medical technology company’s stock valued at $5,377,000 after acquiring an additional 5,921 shares during the period. Finally, State Street Corp increased its holdings in shares of Inogen by 2.8% in the 3rd quarter. State Street Corp now owns 511,018 shares of the medical technology company’s stock valued at $4,957,000 after acquiring an additional 14,054 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

About Inogen

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.