Needham & Company LLC Reaffirms Hold Rating for Inogen (NASDAQ:INGN)

Inogen (NASDAQ:INGN)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

Separately, StockNews.com raised shares of Inogen from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th.

Inogen Stock Up 17.2 %

Inogen stock traded up $1.63 during midday trading on Friday, hitting $11.09. 937,866 shares of the stock were exchanged, compared to its average volume of 158,190. The stock has a market capitalization of $263.04 million, a price-to-earnings ratio of -4.93 and a beta of 1.04. Inogen has a 52-week low of $4.59 and a 52-week high of $13.33. The business’s 50-day moving average price is $9.95 and its 200-day moving average price is $9.41.

Hedge Funds Weigh In On Inogen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INGN. Meeder Asset Management Inc. bought a new stake in shares of Inogen during the 2nd quarter valued at about $30,000. CWM LLC grew its stake in Inogen by 2,185.9% in the 2nd quarter. CWM LLC now owns 6,629 shares of the medical technology company’s stock worth $54,000 after buying an additional 6,339 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Inogen in the 1st quarter worth $81,000. Pitcairn Co. purchased a new stake in shares of Inogen during the 1st quarter valued at $86,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Inogen in the first quarter worth $121,000. 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.