Stock of the Day: Is Buying 52-Week Stock Like Inogen Inc a Winning Strategy?

Stock of the Day: Is Buying 52 Week Stock Like Inogen Inc a Winning Strategy?

The stock of Inogen Inc (NASDAQ:INGN) hit a new 52-week high and has $91.67 target or 45.00% above today’s $63.22 share price. The 8 months bullish chart indicates low risk for the $1.31B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $91.67 price target is reached, the company will be worth $589.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 220,353 shares traded hands. Inogen Inc (NASDAQ:INGN) has risen 32.04% since April 11, 2016 and is uptrending. It has outperformed by 25.89% the S&P500.

Inogen Inc (NASDAQ:INGN) Ratings Coverage

Out of 4 analysts covering Inogen (NASDAQ:INGN), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Inogen has been the topic of 7 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The rating was initiated by JP Morgan with “Overweight” on Wednesday, July 13. Stifel Nicolaus maintained Inogen Inc (NASDAQ:INGN) rating on Tuesday, September 22. Stifel Nicolaus has “Buy” rating and $68.0 price target. The stock of Inogen Inc (NASDAQ:INGN) earned “Buy” rating by Leerink Swann on Wednesday, August 12. The firm earned “Neutral” rating on Thursday, March 24 by Piper Jaffray. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, August 12. The firm has “Strong Buy” rating given on Wednesday, November 11 by Needham.

According to Zacks Investment Research, “Inogen, Inc. is a medical technology company. It offers oxygen concentrator, cart, carry bags, backpacks, external battery chargers and universal power supply for obstructive pulmonary disease patients. The Company’s products include Inogen One G3 and Inogen One G2. It sells its products in the United States and internationally. Inogen, Inc. is headquartered in Goleta, California.”

Insitutional Activity: The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.52, from 1.44 in 2016Q1. The ratio fall, as 22 funds sold all Inogen Inc shares owned while 54 reduced positions. 18 funds bought stakes while 52 increased positions. They now own 21.40 million shares or 1.51% more from 21.09 million shares in 2016Q1.
Bamco Inc Ny reported 12,000 shares or 0% of all its holdings. State Board Of Administration Of Florida Retirement holds 0% of its portfolio in Inogen Inc (NASDAQ:INGN) for 11,246 shares. Secor Cap Advisors L P has invested 0.08% of its portfolio in Inogen Inc (NASDAQ:INGN). Texas Permanent School Fund holds 11,116 shares or 0.01% of its portfolio. Everpoint Asset Mgmt Lc has invested 0.14% of its portfolio in Inogen Inc (NASDAQ:INGN). Pembroke Limited holds 1.34% or 292,500 shares in its portfolio. Moreover, Kornitzer Cap Mngmt Inc Ks has 0.19% invested in Inogen Inc (NASDAQ:INGN) for 213,700 shares. Next Century Growth Investors reported 319,269 shares or 0.75% of all its holdings. Teachers Advsr holds 0% or 26,104 shares in its portfolio. Polar Llp accumulated 193,524 shares or 0.18% of the stock. Swiss Bancorporation accumulated 25,200 shares or 0% of the stock. Thomson Horstmann Bryant last reported 19,481 shares in the company. Fmr Ltd Limited Liability Company has 0% invested in the company for 400,500 shares. Federated Investors Pa holds 8,652 shares or 0% of its portfolio. Moreover, Parametric Portfolio Associate Lc has 0% invested in Inogen Inc (NASDAQ:INGN) for 7,693 shares.

INGN Company Profile

Inogen, Inc., incorporated on November 27, 2001, is a medical technology company. The Firm is engaged in developing, manufacturing and marketing portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

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