Inogen, Inc. (NASDAQ:INGN – Get Rating) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 1,030,000 shares, a decrease of 7.2% from the March 15th total of 1,110,000 shares. Approximately 4.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 285,000 shares, the days-to-cover ratio is presently 3.6 days.
Inogen Trading Up 0.7 %
NASDAQ INGN traded up $0.09 during trading hours on Friday, reaching $13.38. The company had a trading volume of 141,538 shares, compared to its average volume of 274,790. Inogen has a 1-year low of $11.60 and a 1-year high of $32.01. The stock has a 50-day moving average of $15.37 and a 200 day moving average of $19.66.
Inogen (NASDAQ:INGN – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The medical technology company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.03. Inogen had a negative net margin of 22.21% and a negative return on equity of 8.72%. The business had revenue of $88.09 million for the quarter, compared to analysts’ expectations of $89.70 million. During the same quarter in the prior year, the company earned ($1.01) earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Inogen will post -2.07 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Inogen from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. William Blair lowered shares of Inogen from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of Inogen in a report on Thursday.
Hedge Funds Weigh In On Inogen
Several hedge funds have recently added to or reduced their stakes in INGN. Advisor Group Holdings Inc. grew its position in shares of Inogen by 3,054.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,722 shares of the medical technology company’s stock worth $119,000 after acquiring an additional 3,604 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Inogen by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 181,133 shares of the medical technology company’s stock worth $5,871,000 after purchasing an additional 1,836 shares during the period. US Bancorp DE lifted its holdings in shares of 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 purchasing an additional 647 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Inogen by 66.5% during the first quarter. MetLife Investment Management LLC now owns 11,211 shares of the medical technology company’s stock worth $363,000 after purchasing an additional 4,479 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Inogen by 4.7% during the first quarter. Rhumbline Advisers now owns 54,415 shares of the medical technology company’s stock worth $1,764,000 after purchasing an additional 2,421 shares during the period. 95.93% of the stock is currently owned by hedge funds and other institutional investors.
About Inogen
Inogen, Inc is a medical technology company, which engages in the development, manufacture, and marketing of portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Its products include Inogen One G4 system, Inogen One G3 system, Inogen One G5 system, Inogen TAV, and Inogen at Home.