908 Devices (NASDAQ:MASS) Shares Down 0.4% – Time to Sell?

908 Devices Inc. (NASDAQ:MASS) shares dropped 0.4% during trading on Friday . The stock traded as low as $5.38 and last traded at $5.40. Approximately 264,743 shares traded hands during trading, a decline of 49% from the average daily volume of 517,250 shares. The stock had previously closed at $5.42.

Wall Street Analysts Forecast Growth

MASS has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research note on Wednesday, October 8th. Wall Street Zen raised 908 Devices from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, 908 Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

908 Devices Stock Performance

The business’s fifty day moving average is $6.03 and its 200-day moving average is $6.73. The firm has a market cap of $195.43 million, a P/E ratio of -49.09 and a beta of 0.48.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The business had revenue of $14.01 million during the quarter, compared to analyst estimates of $13.58 million. 908 Devices had a negative net margin of 7.17% and a negative return on equity of 22.31%. Analysts predict that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MASS. Farther Finance Advisors LLC acquired a new position in 908 Devices during the 3rd quarter worth about $28,000. Nisa Investment Advisors LLC raised its position in shares of 908 Devices by 453.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock worth $27,000 after acquiring an additional 3,100 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its position in shares of 908 Devices by 49.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company’s stock worth $47,000 after acquiring an additional 2,176 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of 908 Devices in the second quarter worth approximately $48,000. Finally, Daiwa Securities Group Inc. bought a new stake in 908 Devices in the second quarter valued at approximately $61,000. 88.06% of the stock is owned by institutional investors.

About 908 Devices

908 Devices Inc (NASDAQ: MASS) is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company’s core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.

Key products in 908 Devices’ portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.