Inogen (NASDAQ:INGN) Downgraded by StockNews.com to “Hold”

Inogen (NASDAQ:INGN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

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

Inogen Stock Up 2.0 %

INGN stock traded up $0.17 during midday trading on Friday, reaching $8.48. The company had a trading volume of 183,204 shares, compared to its average volume of 318,450. The firm has a market capitalization of $201.98 million, a PE ratio of -3.77 and a beta of 1.02. The stock has a 50 day moving average price of $9.46 and a 200 day moving average price of $9.72. Inogen has a fifty-two week low of $5.08 and a fifty-two week high of $13.33.

Hedge Funds Weigh In On Inogen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in shares of Inogen by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 97,132 shares of the medical technology company’s stock valued at $790,000 after purchasing an additional 7,240 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Inogen during the 2nd quarter worth about $256,000. Monaco Asset Management SAM acquired a new stake in shares of Inogen in the 2nd quarter worth approximately $610,000. American Century Companies Inc. lifted its stake in shares of Inogen by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 38,627 shares of the medical technology company’s stock worth $314,000 after acquiring an additional 9,626 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Inogen in the second quarter valued at approximately $30,000. 89.94% of the stock is owned by 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.