Inogen (NASDAQ:INGN) Stock Price Crosses Below 200 Day Moving Average - Here's What Happened

Inogen, Inc. (NASDAQ:INGN - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.22 and traded as low as $9.03. Inogen shares last traded at $9.19, with a volume of 123,375 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on INGN shares. StockNews.com raised shares of Inogen from a "sell" rating to a "hold" rating in a research report on Tuesday, August 13th. Needham & Company LLC reiterated a "hold" rating on shares of Inogen in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Inogen currently has a consensus rating of "Hold" and an average price target of $7.00.

Inogen Trading Down 1.1 %

The firm has a market capitalization of $214.31 million, a price-to-earnings ratio of -2.21 and a beta of 1.04. The company has a fifty day moving average price of $10.80 and a 200-day moving average price of $9.22.

Inogen (NASDAQ:INGN - Get Free Report) last posted its earnings results on Tuesday, August 6th. The medical technology company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.31. The company had revenue of $88.77 million during the quarter, compared to the consensus estimate of $82.50 million. Inogen had a negative net margin of 28.30% and a negative return on equity of 45.37%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) earnings per share. As a group, sell-side analysts predict that Inogen, Inc. will post -1.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Inogen

Several hedge funds have recently bought and sold shares of INGN. Sanctuary Advisors LLC bought a new stake in shares of Inogen during the 2nd quarter worth about $651,000. B. Riley Wealth Advisors Inc. bought a new stake in Inogen during the second quarter worth approximately $457,000. Susquehanna Fundamental Investments LLC grew its holdings in Inogen by 153.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 25,393 shares of the medical technology company's stock valued at $206,000 after purchasing an additional 15,361 shares during the last quarter. Meros Investment Management LP raised its position in shares of Inogen by 1.6% in the second quarter. Meros Investment Management LP now owns 397,209 shares of the medical technology company's stock valued at $3,229,000 after purchasing an additional 6,385 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Inogen by 29.3% during the 2nd quarter. AQR Capital Management LLC now owns 570,994 shares of the medical technology company's stock worth $4,642,000 after buying an additional 129,307 shares during the period. 89.94% of the stock is owned by institutional investors and hedge funds.

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.