Inogen, Inc. (NASDAQ:INGN) Short Interest Down 11.4% in October

Inogen, Inc. (NASDAQ:INGN) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 826,300 shares, a decline of 11.4% from the October 15th total of 932,600 shares. Based on an average daily volume of 190,100 shares, the days-to-cover ratio is presently 4.3 days.

Inogen Trading Up 1.0 %

Shares of Inogen stock opened at $10.05 on Friday. Inogen has a 52-week low of $4.93 and a 52-week high of $13.33. The company’s 50-day simple moving average is $9.82 and its 200-day simple moving average is $9.53.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INGN. Price T Rowe Associates Inc. MD boosted its position in Inogen by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,868 shares of the medical technology company’s stock worth $193,000 after purchasing an additional 1,188 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Inogen during the 2nd quarter worth $30,000. BNP Paribas Financial Markets boosted its position in shares of Inogen by 13.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,137 shares of the medical technology company’s stock worth $409,000 after buying an additional 5,131 shares in the last quarter. Geode Capital Management LLC grew its stake in Inogen by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 554,191 shares of the medical technology company’s stock valued at $5,377,000 after acquiring an additional 5,921 shares during the last quarter. Finally, Quarry LP purchased a new position in Inogen during the 3rd quarter valued at about $59,000. 89.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INGN has been the topic of a number of recent analyst reports. StockNews.com raised shares of Inogen from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a report on Friday, November 8th.

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.