908 Devices (NASDAQ:MASS) Rating Lowered to “Hold” at Wall Street Zen

908 Devices (NASDAQ:MASS) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings downgraded shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.00.

908 Devices Price Performance

MASS stock opened at $7.35 on Friday. The business has a 50 day moving average price of $8.14 and a 200 day moving average price of $7.05. The stock has a market cap of $277.90 million, a price-to-earnings ratio of -7.35 and a beta of 0.63. 908 Devices has a fifty-two week low of $5.03 and a fifty-two week high of $9.34.

Insiders Place Their Bets

In other 908 Devices news, Director Christopher D. Brown sold 30,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $270,000.00. Following the transaction, the director directly owned 895,559 shares of the company’s stock, valued at approximately $8,060,031. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $6.83, for a total transaction of $53,185.21. Following the completion of the sale, the senior vice president directly owned 76,039 shares of the company’s stock, valued at $519,346.37. The trade was a 9.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 96,927 shares of company stock valued at $815,293. Insiders own 28.20% of the company’s stock.

Institutional Trading of 908 Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in MASS. Raymond James Financial Inc. purchased a new position in shares of 908 Devices in the 2nd quarter valued at approximately $48,000. Intelligence Driven Advisers LLC acquired a new stake in shares of 908 Devices during the first quarter worth $61,000. Daiwa Securities Group Inc. acquired a new stake in shares of 908 Devices during the second quarter worth $61,000. PCM Encore LLC purchased a new position in 908 Devices in the 4th quarter valued at $62,000. Finally, The Manufacturers Life Insurance Company purchased a new position in 908 Devices in the 2nd quarter valued at $77,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

908 Devices Company Profile

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.