908 Devices (NASDAQ:MASS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of 908 Devices (NASDAQ:MASS) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Other analysts have also issued reports about the company. Stifel Nicolaus lifted their price target on 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Finally, Roth Capital raised their target price on 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, 908 Devices presently has an average rating of “Hold” and a consensus price target of $12.50.

908 Devices Stock Performance

Shares of MASS stock opened at $10.67 on Friday. 908 Devices has a 52-week low of $5.03 and a 52-week high of $11.25. The company has a 50-day simple moving average of $8.80 and a two-hundred day simple moving average of $7.72. The company has a market capitalization of $440.99 million, a price-to-earnings ratio of -11.23 and a beta of 0.66.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. The firm had revenue of $16.07 million for the quarter, compared to analysts’ expectations of $15.37 million. On average, sell-side analysts forecast that 908 Devices will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Joseph H. Iv Griffith sold 11,459 shares of 908 Devices stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total value of $125,476.05. Following the sale, the chief financial officer owned 121,497 shares of the company’s stock, valued at approximately $1,330,392.15. The trade was a 8.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 20,000 shares of 908 Devices stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $8.73, for a total transaction of $174,600.00. Following the completion of the sale, the director directly owned 875,559 shares in the company, valued at $7,643,630.07. This trade represents a 2.23% 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 a total of 81,459 shares of company stock valued at $742,522 over the last three months. Insiders own 28.20% of the company’s stock.

Hedge Funds Weigh In On 908 Devices

Institutional investors and hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC raised its stake in shares of 908 Devices by 25.6% in the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock valued at $37,164,000 after buying an additional 1,236,377 shares during the period. AWM Investment Company Inc. bought a new position in shares of 908 Devices during the 2nd quarter worth $42,454,000. ARK Investment Management LLC grew its stake in shares of 908 Devices by 1.6% during the 4th quarter. ARK Investment Management LLC now owns 1,985,986 shares of the company’s stock worth $10,426,000 after acquiring an additional 32,214 shares during the period. BlackRock Inc. bought a new position in shares of 908 Devices during the 2nd quarter worth $16,915,000. Finally, Needham Investment Management LLC increased its holdings in 908 Devices by 246.8% in the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after acquiring an additional 548,000 shares during the last quarter. 88.06% of the stock is owned by 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.