908 Devices (NASDAQ:MASS) Price Target Raised to $14.00

908 Devices (NASDAQ:MASS) had its price target upped by Canaccord Genuity Group from $13.50 to $14.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research note on Wednesday, November 4th. Wall Street Zen downgraded 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Roth Capital upped their target price on 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Stifel Nicolaus raised their price target on shares of 908 Devices from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, 908 Devices has a consensus rating of “Moderate Buy” and a consensus price target of $13.67.

908 Devices Trading Down 0.5%

NASDAQ:MASS traded down $0.05 during midday trading on Thursday, hitting $9.74. 343,977 shares of the stock were exchanged, compared to its average volume of 402,877. 908 Devices has a one year low of $5.03 and a one year high of $13.35. The company has a market capitalization of $404.99 million, a price-to-earnings ratio of -14.98 and a beta of 0.66. The business has a 50-day moving average price of $11.17 and a two-hundred day moving average price of $8.56.

908 Devices (NASDAQ:MASS) last issued its earnings results on Tuesday, November 10th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. 908 Devices had a negative net margin of 36.87% and a negative return on equity of 11.44%. The firm had revenue of $18.95 million during the quarter, compared to analysts’ expectations of $18.31 million. Sell-side analysts forecast that 908 Devices will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christopher Brown sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $10.95, for a total value of $328,500.00. Following the transaction, the director directly owned 775,559 shares in the company, valued at approximately $8,492,371.05. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 21,399 shares of 908 Devices stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $10.11, for a total transaction of $216,343.89. Following the completion of the transaction, the senior vice president owned 57,784 shares in the company, valued at $584,196.24. This trade represents a 27.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 134,115 shares of company stock valued at $1,473,296 over the last three months. 28.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 908 Devices

A number of institutional investors have recently made changes to their positions in MASS. Empowered Funds LLC acquired a new position in shares of 908 Devices during the third quarter worth approximately $613,000. 49 Wealth Management LLC bought a new stake in shares of 908 Devices in the 3rd quarter worth approximately $169,000. Pier 88 Investment Partners LLC increased its position in shares of 908 Devices by 59.2% during the third quarter. Pier 88 Investment Partners LLC now owns 22,600 shares of the company’s stock valued at $279,000 after purchasing an additional 8,400 shares during the period. First Light Asset Management LLC raised its stake in shares of 908 Devices by 3.5% in the second quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock valued at $54,660,000 after purchasing an additional 210,241 shares in the last quarter. Finally, Gainline Financial Partners LLC acquired a new position in shares of 908 Devices in the second quarter valued at $107,000. 88.06% of the stock is currently owned by institutional investors.

About 908 Devices

908 Devices, Inc. develops analytical instruments that help users identify and measure chemicals and biomolecules. Its products use mass spectrometry and related technologies to bring laboratory-style analysis to settings where rapid results are needed. The company’s portfolio includes handheld devices for detecting and identifying chemical substances, as well as laboratory instruments and tools used in areas such as biopharmaceutical research and protein analysis. Its customers include organizations in public safety, defense, forensics, industrial markets and life sciences.