Inogen (NASDAQ:INGN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Inogen (NASDAQ:INGN) from a buy rating to a hold rating in a research note issued to investors on Friday.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a research report on Friday, November 8th.

Inogen Trading Up 2.0 %

NASDAQ INGN opened at $8.48 on Friday. The firm has a market cap of $201.98 million, a PE ratio of -3.77 and a beta of 1.02. Inogen has a 1-year low of $5.08 and a 1-year high of $13.33. The stock has a 50-day moving average of $9.46 and a 200-day moving average of $9.72.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Inogen by 312.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,625 shares of the medical technology company’s stock worth $1,694,000 after buying an additional 132,287 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Inogen in the 2nd quarter worth approximately $457,000. Divisadero Street Capital Management LP increased its position in shares of 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 valued at $19,079,000 after purchasing an additional 2,046,766 shares during the last quarter. Monaco Asset Management SAM purchased a new stake in Inogen during the 2nd quarter valued at $610,000. Finally, Sanctuary Advisors LLC bought a new stake in Inogen in the second quarter worth $651,000. 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.