Short Interest in 908 Devices Inc. (NASDAQ:MASS) Rises By 20.0%

908 Devices Inc. (NASDAQ:MASS) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 3,828,392 shares, a growth of 20.0% from the January 29th total of 3,189,641 shares. Currently, 13.9% of the company’s stock are short sold. Based on an average daily trading volume, of 333,907 shares, the days-to-cover ratio is presently 11.5 days. Based on an average daily trading volume, of 333,907 shares, the days-to-cover ratio is presently 11.5 days. Currently, 13.9% of the company’s stock are short sold.

908 Devices Stock Up 0.1%

Shares of 908 Devices stock opened at $6.75 on Friday. 908 Devices has a twelve month low of $2.67 and a twelve month high of $9.34. The company’s 50 day moving average is $6.21 and its 200 day moving average is $6.64. The company has a market cap of $244.30 million, a price-to-earnings ratio of 12.27 and a beta of 0.47.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.87% and a net margin of 34.68%.The firm had revenue of $17.38 million for the quarter, compared to analysts’ expectations of $16.19 million. Sell-side analysts expect that 908 Devices will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Joseph H. Iv Griffith sold 23,175 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $6.18, for a total transaction of $143,221.50. Following the completion of the transaction, the chief financial officer directly owned 139,896 shares in the company, valued at $864,557.28. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On 908 Devices

Several institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of 908 Devices in the first quarter worth approximately $365,000. Nisa Investment Advisors LLC raised its position in 908 Devices by 453.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock worth $27,000 after acquiring an additional 3,100 shares during the period. First Eagle Investment Management LLC purchased a new position in shares of 908 Devices during the 2nd quarter worth $1,906,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of 908 Devices during the 2nd quarter worth $1,515,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of 908 Devices during the 2nd quarter valued at $775,000. Institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, 908 Devices currently has an average rating of “Hold” and an average target price of $12.00.

About 908 Devices

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.