908 Devices (NASDAQ:MASS) Downgraded by Wall Street Zen to “Hold”

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

Separately, Weiss Ratings downgraded 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.00.

908 Devices Trading Down 0.8%

Shares of MASS stock opened at $7.35 on Friday. The business’s 50 day moving average is $8.14 and its two-hundred day moving average is $7.04. 908 Devices has a twelve month low of $5.03 and a twelve month high of $9.34. The company has a market capitalization of $277.93 million, a P/E ratio of -7.35 and a beta of 0.63.

Insider Buying and Selling at 908 Devices

In related news, SVP John Kenneweg sold 7,787 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.83, for a total value of $53,185.21. Following the completion of the transaction, the senior vice president directly owned 76,039 shares of the company’s stock, valued at $519,346.37. This trade represents a 9.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher D. Brown sold 30,000 shares of 908 Devices stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.00, for a total value 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 represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 96,927 shares of company stock valued at $815,293. Corporate insiders own 28.20% of the company’s stock.

Hedge Funds Weigh In On 908 Devices

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of 908 Devices in the second quarter valued at approximately $48,000. Daiwa Securities Group Inc. purchased a new stake in 908 Devices in the 2nd quarter valued at approximately $61,000. Intelligence Driven Advisers LLC purchased a new stake in 908 Devices in the 1st quarter valued at approximately $61,000. Russell Investments Group Ltd. acquired a new stake in 908 Devices during the 3rd quarter valued at $93,000. Finally, The Manufacturers Life Insurance Company purchased a new position in 908 Devices during the second quarter worth $77,000. 88.06% of the stock is currently 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.