Inogen, Inc. (NASDAQ:INGN) Sees Large Decline in Short Interest

Inogen, Inc. (NASDAQ:INGN) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 662,900 shares, a drop of 16.1% from the March 15th total of 790,000 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average trading volume of 336,200 shares, the days-to-cover ratio is presently 2.0 days.

Inogen Price Performance

Shares of NASDAQ:INGN traded up $0.11 during trading hours on Tuesday, hitting $6.85. 61,732 shares of the company’s stock traded hands, compared to its average volume of 324,149. Inogen has a 1 year low of $6.40 and a 1 year high of $13.33. The firm has a market capitalization of $184.18 million, a P/E ratio of -3.04 and a beta of 1.48. The business has a fifty day moving average price of $7.88 and a 200-day moving average price of $9.12.

Wall Street Analysts Forecast Growth

INGN has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Inogen in a research note on Wednesday, April 9th. StockNews.com downgraded Inogen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th.

Hedge Funds Weigh In On Inogen

Institutional investors have recently modified their holdings of the stock. AlphaQuest LLC bought a new position in Inogen during the 4th quarter worth about $43,000. GAMMA Investing LLC increased its holdings in shares of Inogen by 5,738.9% during the first quarter. GAMMA Investing LLC now owns 5,547 shares of the medical technology company’s stock valued at $400,000 after acquiring an additional 5,452 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Inogen during the fourth quarter worth $56,000. Integrated Quantitative Investments LLC purchased a new stake in Inogen during the 4th quarter valued at about $92,000. Finally, Intech Investment Management LLC purchased a new position in Inogen during the 4th quarter worth approximately $94,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

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.