Needham & Company LLC Reiterates “Hold” Rating for Inogen (NASDAQ:INGN)

Needham & Company LLC reaffirmed their hold rating on shares of Inogen (NASDAQ:INGN) in a report released on Tuesday morning,Benzinga reports.

Separately, StockNews.com lowered shares of Inogen from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Inogen Stock Performance

Shares of NASDAQ:INGN opened at $10.62 on Tuesday. The stock has a 50-day simple moving average of $9.49 and a 200-day simple moving average of $9.90. The stock has a market capitalization of $252.95 million, a P/E ratio of -4.72 and a beta of 1.02. Inogen has a 1 year low of $5.08 and a 1 year high of $13.33.

Institutional Investors Weigh In On Inogen

A number of large investors have recently modified their holdings of INGN. Divisadero Street Capital Management LP lifted its position in Inogen by 682.3% during the 2nd quarter. Divisadero Street Capital Management LP now owns 2,346,766 shares of the medical technology company’s stock worth $19,079,000 after acquiring an additional 2,046,766 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Inogen by 312.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,625 shares of the medical technology company’s stock valued at $1,694,000 after purchasing an additional 132,287 shares during the period. AQR Capital Management LLC lifted its position in shares of Inogen by 29.3% during the second quarter. AQR Capital Management LLC now owns 570,994 shares of the medical technology company’s stock worth $4,642,000 after purchasing an additional 129,307 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Inogen in the second quarter valued at $651,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Inogen during the 2nd quarter valued at $457,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

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.