Inogen, Inc. (NASDAQ:INGN) Sees Large Drop in Short Interest

Inogen, Inc. (NASDAQ:INGN) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 714,200 shares, a drop of 6.2% from the December 15th total of 761,300 shares. Based on an average trading volume of 187,000 shares, the short-interest ratio is currently 3.8 days.

Institutional Trading of Inogen

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in Inogen during the 3rd quarter worth approximately $59,000. Verition Fund Management LLC purchased a new stake in shares of Inogen in the 3rd quarter worth about $106,000. Virtu Financial LLC bought a new position in shares of Inogen during the third quarter valued at approximately $111,000. Paloma Partners Management Co purchased a new position in Inogen during the third quarter valued at $126,000. Finally, Centiva Capital LP purchased a new position in shares of Inogen in the 3rd quarter worth about $138,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on INGN shares. Needham & Company LLC reiterated a “hold” rating on shares of Inogen in a research note on Tuesday, January 14th. StockNews.com cut shares of Inogen from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Inogen Trading Down 0.5 %

Shares of NASDAQ:INGN traded down $0.05 during mid-day trading on Friday, reaching $10.47. The company had a trading volume of 149,232 shares, compared to its average volume of 148,305. Inogen has a one year low of $5.08 and a one year high of $13.33. The company’s 50-day moving average price is $9.53 and its 200-day moving average price is $9.94. The firm has a market cap of $249.40 million, a price-to-earnings ratio of -4.65 and a beta of 1.02.

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.