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

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

Other equities research analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Canaccord Genuity Group assumed coverage on shares of 908 Devices in a report on Thursday. They issued a “buy” rating and a $13.50 price objective on the stock. Stifel Nicolaus boosted their target price on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Roth Capital boosted their target price on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, 908 Devices presently has an average rating of “Moderate Buy” and an average price target of $12.83.

908 Devices Trading Up 1.8%

NASDAQ:MASS opened at $9.52 on Friday. The company has a market cap of $393.46 million, a PE ratio of -10.02 and a beta of 0.68. The company has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $7.92. 908 Devices has a 12 month low of $5.03 and a 12 month high of $11.25.

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

Insider Activity

In other 908 Devices news, Director Christopher D. Brown sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $10.58, for a total value of $317,400.00. Following the completion of the sale, the director owned 775,559 shares in the company, valued at $8,205,414.22. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph Griffith, IV sold 11,459 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total value of $125,476.05. Following the completion of the transaction, the chief financial officer directly owned 121,497 shares in the company, valued at $1,330,392.15. This trade represents a 8.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 91,359 shares of company stock valued at $884,422 in the last three months. 28.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MASS. Prescott Group Capital Management L.L.C. lifted its position in shares of 908 Devices by 90.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock valued at $1,898,000 after acquiring an additional 171,590 shares in the last quarter. BlackRock Inc. bought a new stake in 908 Devices during the 2nd quarter valued at approximately $16,915,000. Nano Cap New Millennium Growth Fund L P bought a new stake in 908 Devices during the 4th quarter valued at approximately $630,000. First Light Asset Management LLC lifted its holdings in 908 Devices by 25.6% in the 1st quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock worth $37,164,000 after purchasing an additional 1,236,377 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in 908 Devices in the 2nd quarter worth approximately $962,000. Institutional investors own 88.06% of the company’s stock.

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.