908 Devices (NASDAQ:MASS) Upgraded to Buy at Zacks Investment Research

908 Devices (NASDAQ:MASSGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $19.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 22.66% from the company’s current price.

According to Zacks, “908 Devices Inc. is a purpose-built handheld and desktop mass spec devices for chemical and biomolecular analysis. It conducts research, designs and manufactures products of mass spectrometry, microfluidic separations, software automation and machine learning. 908 Devices Inc. is headquartered in Boston. “

Separately, SVB Leerink cut their price target on 908 Devices from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 8th.

Shares of MASS opened at $15.49 on Tuesday. The firm has a market capitalization of $483.81 million, a price-to-earnings ratio of -19.36 and a beta of 1.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 16.51 and a current ratio of 17.05. The business’s fifty day moving average price is $18.57 and its two-hundred day moving average price is $21.41. 908 Devices has a 52 week low of $12.60 and a 52 week high of $50.98.

908 Devices (NASDAQ:MASSGet Rating) last announced its quarterly earnings data on Monday, March 7th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $15.84 million for the quarter, compared to analyst estimates of $15.13 million. 908 Devices had a negative return on equity of 14.85% and a negative net margin of 52.53%. The business’s quarterly revenue was up 177.1% compared to the same quarter last year. During the same period last year, the company earned ($0.60) EPS. As a group, research analysts forecast that 908 Devices will post -0.93 EPS for the current year.

In other news, VP Trent A. Basarsky sold 15,000 shares of the stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $19.74, for a total value of $296,100.00. Following the transaction, the vice president now owns 75,000 shares of the company’s stock, valued at approximately $1,480,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Christopher D. Brown sold 19,900 shares of the stock in a transaction on Friday, March 18th. The shares were sold at an average price of $20.06, for a total value of $399,194.00. The disclosure for this sale can be found here. In the last three months, insiders sold 79,829 shares of company stock worth $1,560,557. 51.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of MASS. Royal Bank of Canada raised its stake in 908 Devices by 173.0% during the 3rd quarter. Royal Bank of Canada now owns 1,354 shares of the company’s stock worth $44,000 after buying an additional 858 shares during the period. Daiwa Securities Group Inc. acquired a new stake in 908 Devices during the 3rd quarter worth $53,000. Citigroup Inc. raised its stake in 908 Devices by 285.3% during the 3rd quarter. Citigroup Inc. now owns 1,811 shares of the company’s stock worth $59,000 after buying an additional 1,341 shares during the period. Prospera Financial Services Inc acquired a new stake in 908 Devices during the 1st quarter worth $76,000. Finally, Metropolitan Life Insurance Co NY bought a new position in 908 Devices during the 3rd quarter worth about $127,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

908 Devices Company Profile (Get Rating)

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry (Mass Spec) devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, industrial biotech, 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 gas, liquid, and solid materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and ZipChip solution, a plug-and-play, high-resolution separation platform that optimizes Mass Spec sample analysis.

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