Inogen, Inc. (NASDAQ:INGN – Get Free Report) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 826,300 shares, a decrease of 11.4% from the October 15th total of 932,600 shares. Based on an average daily volume of 190,100 shares, the short-interest ratio is presently 4.3 days.
Institutional Investors Weigh In On Inogen
A number of institutional investors have recently modified their holdings of INGN. Meeder Asset Management Inc. purchased a new position in Inogen in the second quarter valued at $30,000. CWM LLC boosted its stake in shares of Inogen by 2,185.9% in the 2nd quarter. CWM LLC now owns 6,629 shares of the medical technology company’s stock valued at $54,000 after buying an additional 6,339 shares during the period. Quarry LP acquired a new position in shares of Inogen during the third quarter worth about $59,000. Pitcairn Co. acquired a new position in shares of Inogen during the first quarter worth about $86,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Inogen during the third quarter worth approximately $106,000. 89.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on INGN shares. StockNews.com upgraded Inogen from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Needham & Company LLC restated a “hold” rating on shares of Inogen in a research report on Friday, November 8th.
Inogen Trading Up 1.0 %
Shares of Inogen stock opened at $10.05 on Friday. Inogen has a fifty-two week low of $4.93 and a fifty-two week high of $13.33. The stock has a 50 day moving average of $9.82 and a 200 day moving average of $9.53.
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.
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