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

StockNews.com downgraded shares of Inogen (NASDAQ:INGN) from a buy rating to a hold rating in a report published on Wednesday morning.

Separately, Needham & Company LLC restated a “hold” rating on shares of Inogen in a report on Wednesday.

Inogen Price Performance

NASDAQ:INGN opened at $8.11 on Wednesday. The firm has a 50-day moving average of $10.20 and a 200-day moving average of $10.26. The company has a market cap of $193.16 million, a PE ratio of -3.60 and a beta of 1.02. Inogen has a one year low of $5.82 and a one year high of $13.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC purchased a new position in Inogen in the fourth quarter valued at about $43,000. Meeder Asset Management Inc. purchased a new position in Inogen in the fourth quarter valued at about $56,000. Quarry LP purchased a new position in Inogen in the third quarter valued at about $59,000. Integrated Quantitative Investments LLC purchased a new position in Inogen in the fourth quarter valued at about $92,000. Finally, Intech Investment Management LLC purchased a new position in Inogen in the fourth quarter valued at about $94,000. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

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.