Short Interest in Inogen, Inc. (NASDAQ:INGN) Expands By 7.7%

Inogen, Inc. (NASDAQ:INGN) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,820,000 shares, a growth of 7.7% from the March 31st total of 1,690,000 shares. Based on an average daily trading volume, of 536,700 shares, the days-to-cover ratio is currently 3.4 days.

Institutional Investors Weigh In On Inogen

A number of institutional investors have recently made changes to their positions in the company. Meros Investment Management LP increased its holdings in shares of Inogen by 14.9% in the 3rd quarter. Meros Investment Management LP now owns 589,604 shares of the medical technology company’s stock valued at $3,078,000 after acquiring an additional 76,294 shares during the last quarter. Kent Lake Capital LLC bought a new stake in shares of Inogen in the 3rd quarter valued at approximately $2,418,000. Acadian Asset Management LLC grew its stake in Inogen by 195.6% during the 3rd quarter. Acadian Asset Management LLC now owns 389,792 shares of the medical technology company’s stock worth $2,033,000 after buying an additional 257,940 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Inogen by 26.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 285,176 shares of the medical technology company’s stock worth $1,566,000 after buying an additional 59,446 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Inogen by 347.2% during the 4th quarter. Federated Hermes Inc. now owns 265,485 shares of the medical technology company’s stock worth $1,458,000 after buying an additional 206,125 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors.

Inogen Price Performance

INGN opened at $6.80 on Wednesday. Inogen has a 12 month low of $4.13 and a 12 month high of $14.10. The stock has a market capitalization of $160.14 million, a price-to-earnings ratio of -1.54 and a beta of 1.06. The business has a 50-day moving average of $7.29 and a two-hundred day moving average of $6.41.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.49). The company had revenue of $75.90 million for the quarter, compared to analyst estimates of $78.09 million. Inogen had a negative return on equity of 38.98% and a negative net margin of 32.46%. Equities research analysts anticipate that Inogen will post -2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INGN has been the subject of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a research note on Tuesday, April 9th. William Blair upgraded Inogen from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.50.

Inogen Company Profile

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.