Prescott Group Capital Management L.L.C. Acquires Shares of 150,000 908 Devices Inc. (NASDAQ:MASS)

Prescott Group Capital Management L.L.C. bought a new position in shares of 908 Devices Inc. (NASDAQ:MASS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 150,000 shares of the company’s stock, valued at approximately $330,000. Prescott Group Capital Management L.L.C. owned approximately 0.43% of 908 Devices as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. 49 Wealth Management LLC raised its holdings in 908 Devices by 16.2% in the 3rd quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock valued at $108,000 after acquiring an additional 4,343 shares during the last quarter. State Street Corp grew its position in 908 Devices by 1.2% in the third quarter. State Street Corp now owns 479,044 shares of the company’s stock worth $1,662,000 after acquiring an additional 5,704 shares during the period. Geode Capital Management LLC boosted its position in 908 Devices by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock valued at $1,970,000 after buying an additional 6,634 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of 908 Devices in the third quarter worth $45,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of 908 Devices during the third quarter worth $50,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

908 Devices Trading Down 10.7 %

Shares of 908 Devices stock opened at $3.01 on Friday. The stock has a market cap of $104.82 million, a PE ratio of -1.70 and a beta of 0.99. The company has a 50-day moving average of $2.51 and a two-hundred day moving average of $2.94. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $7.56.

Analyst Ratings Changes

Several brokerages recently weighed in on MASS. Stifel Nicolaus reduced their target price on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Leerink Partners reiterated a “market perform” rating and set a $4.00 target price (down previously from $12.00) on shares of 908 Devices in a research report on Wednesday, November 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 908 Devices in a research report on Wednesday, February 19th. Stephens reaffirmed an “overweight” rating and set a $6.00 price objective on shares of 908 Devices in a research note on Wednesday, January 15th. Finally, Leerink Partnrs cut shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

908 Devices Profile

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.