Short Interest in Inogen, Inc. (NASDAQ:INGN) Drops By 9.9%

Inogen, Inc. (NASDAQ:INGN) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 744,800 shares, a drop of 9.9% from the October 31st total of 826,300 shares. Based on an average daily trading volume, of 192,000 shares, the days-to-cover ratio is presently 3.9 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INGN shares. StockNews.com lowered Inogen from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a research report on Friday, November 8th.

Institutional Trading of Inogen

Several hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Inogen in the 2nd quarter worth about $30,000. CWM LLC increased its stake in shares of Inogen by 2,185.9% in the second quarter. CWM LLC now owns 6,629 shares of the medical technology company’s stock worth $54,000 after purchasing an additional 6,339 shares in the last quarter. Quarry LP bought a new stake in shares of Inogen in the third quarter valued at approximately $59,000. Verition Fund Management LLC purchased a new stake in shares of Inogen during the 3rd quarter valued at approximately $106,000. Finally, Virtu Financial LLC bought a new position in Inogen in the 3rd quarter worth approximately $111,000. 89.94% of the stock is currently owned by institutional investors.

Inogen Price Performance

Shares of Inogen stock traded up $0.40 on Monday, reaching $10.11. 192,878 shares of the company traded hands, compared to its average volume of 327,433. The company has a 50 day moving average of $9.51 and a 200 day moving average of $9.66. Inogen has a 52 week low of $4.93 and a 52 week high of $13.33. The firm has a market capitalization of $240.82 million, a PE ratio of -4.49 and a beta of 1.04.

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.