908 Devices (NASDAQ:MASS) Stock Rating Reaffirmed by Stephens

908 Devices (NASDAQ:MASSGet Free Report)‘s stock had its “overweight” rating restated by equities researchers at Stephens in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $14.00 price target on the stock. Stephens’ price objective suggests a potential upside of 95.80% from the company’s previous close.

908 Devices Stock Up 9.0 %

Shares of NASDAQ:MASS opened at $7.15 on Monday. The stock has a market capitalization of $246.60 million, a PE ratio of -6.68 and a beta of 1.02. The firm’s 50 day moving average price is $6.34 and its 200-day moving average price is $7.11. 908 Devices has a twelve month low of $4.85 and a twelve month high of $12.51.

908 Devices (NASDAQ:MASSGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.03. 908 Devices had a negative net margin of 68.57% and a negative return on equity of 20.87%. The business had revenue of $9.99 million for the quarter, compared to the consensus estimate of $9.29 million. During the same period last year, the firm earned ($0.39) earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that 908 Devices will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kevin J. Knopp purchased 10,000 shares of the stock in a transaction on Monday, May 13th. The shares were acquired at an average price of $6.42 per share, with a total value of $64,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 508,981 shares of the company’s stock, valued at $3,267,658.02. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders bought 30,000 shares of company stock valued at $178,500. 27.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 908 Devices

Large investors have recently made changes to their positions in the business. Values First Advisors Inc. raised its stake in 908 Devices by 24.5% during the 3rd quarter. Values First Advisors Inc. now owns 16,726 shares of the company’s stock valued at $111,000 after purchasing an additional 3,294 shares during the period. New York State Common Retirement Fund grew its holdings in 908 Devices by 5.0% during the 4th quarter. New York State Common Retirement Fund now owns 74,033 shares of the company’s stock valued at $831,000 after buying an additional 3,508 shares in the last quarter. Arete Wealth Advisors LLC raised its position in shares of 908 Devices by 35.8% during the third quarter. Arete Wealth Advisors LLC now owns 22,758 shares of the company’s stock valued at $152,000 after buying an additional 5,997 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 908 Devices by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after buying an additional 6,772 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of 908 Devices by 11.1% during the third quarter. Bank of New York Mellon Corp now owns 93,775 shares of the company’s stock worth $625,000 after acquiring an additional 9,393 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

About 908 Devices

(Get Free Report)

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.

Read More

Receive News & Ratings for 908 Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 908 Devices and related companies with MarketBeat.com's FREE daily email newsletter.