Inogen (NASDAQ:INGN) Stock Passes Above 50 Day Moving Average – What’s Next?

Inogen, Inc. (NASDAQ:INGN) passed above its fifty day moving average during trading on Monday . The stock has a fifty 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 trading hands.

Wall Street Analyst Weigh In

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

Inogen Price Performance

The firm has a 50-day simple moving average of $9.52 and a 200 day simple moving average of $9.90. The company has a market capitalization of $259.14 million, a PE ratio of -4.84 and a beta of 1.02.

Institutional Investors Weigh In On Inogen

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in Inogen by 13.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,137 shares of the medical technology company’s stock worth $409,000 after acquiring an additional 5,131 shares during the period. Geode Capital Management LLC boosted its stake in shares of Inogen by 1.1% in the third quarter. Geode Capital Management LLC now owns 554,191 shares of the medical technology company’s stock valued at $5,377,000 after purchasing an additional 5,921 shares during the period. Quarry LP acquired a new stake in Inogen during the 3rd quarter valued at $59,000. Meros Investment Management LP increased its stake in Inogen by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 397,209 shares of the medical technology company’s stock worth $3,229,000 after buying an additional 6,385 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Inogen by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,132 shares of the medical technology company’s stock worth $790,000 after buying an additional 7,240 shares during the period. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

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.