Zacks Investment Research Lowers 908 Devices (NASDAQ:MASS) to Hold

908 Devices (NASDAQ:MASSGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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 objective on shares of 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 $13.54 on Thursday. 908 Devices has a 1 year low of $12.60 and a 1 year high of $45.09. The firm has a fifty day moving average of $18.58 and a 200-day moving average of $21.24. 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 company has a market cap of $422.91 million, a price-to-earnings ratio of -16.92 and a beta of 1.59.

908 Devices (NASDAQ:MASSGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.30) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.30). 908 Devices had a negative net margin of 52.53% and a negative return on equity of 14.85%. The business had revenue of $8.31 million for the quarter, compared to analysts’ expectations of $7.65 million. During the same period in the previous year, the business earned ($0.22) earnings per share. The company’s revenue was up 49.8% on a year-over-year basis. Analysts predict that 908 Devices will post -0.93 EPS for the current year.

In other 908 Devices news, CTO Christopher D. Brown sold 19,900 shares of the business’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $20.06, for a total transaction of $399,194.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Trent A. Basarsky sold 15,000 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $17.66, for a total value of $264,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,829 shares of company stock worth $1,560,557. 51.10% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Nicholas Investment Partners LP grew its stake in 908 Devices by 78.4% during the 1st quarter. Nicholas Investment Partners LP now owns 552,801 shares of the company’s stock valued at $10,509,000 after acquiring an additional 242,968 shares in the last quarter. Decheng Capital Management III Cayman LLC purchased a new position in 908 Devices during the 1st quarter valued at about $380,000. Swiss National Bank grew its stake in 908 Devices by 7.6% during the 1st quarter. Swiss National Bank now owns 36,700 shares of the company’s stock valued at $698,000 after acquiring an additional 2,600 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in 908 Devices by 1.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 567,650 shares of the company’s stock valued at $10,218,000 after acquiring an additional 9,900 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in 908 Devices by 19.3% during the 1st quarter. New York State Common Retirement Fund now owns 65,378 shares of the company’s stock valued at $1,243,000 after acquiring an additional 10,594 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.

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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