908 Devices (NASDAQ:MASS) Rating Increased to Buy at Wall Street Zen

908 Devices (NASDAQ:MASS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

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

908 Devices Price Performance

MASS opened at $6.07 on Friday. The company has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $6.64. The firm has a market cap of $226.90 million, a P/E ratio of 11.04 and a beta of 0.47. 908 Devices has a 1-year low of $3.55 and a 1-year high of $9.34.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. 908 Devices had a net margin of 34.68% and a negative return on equity of 14.99%. The firm had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. Equities analysts anticipate that 908 Devices will post -1.99 earnings per share for the current year.

Insider Activity

In other news, CFO Joseph H. Iv Griffith sold 23,175 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $6.18, for a total value of $143,221.50. Following the transaction, the chief financial officer owned 139,896 shares of the company’s stock, valued at approximately $864,557.28. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 908 Devices

Several institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC lifted its stake in 908 Devices by 92.6% in the 4th quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company’s stock worth $25,390,000 after purchasing an additional 2,325,690 shares in the last quarter. GM Advisory Group LLC purchased a new position in shares of 908 Devices during the second quarter valued at about $8,309,000. Needham Investment Management LLC increased its holdings in shares of 908 Devices by 246.8% in the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after purchasing an additional 548,000 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of 908 Devices by 359.4% in the second quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock worth $4,626,000 after purchasing an additional 507,562 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of 908 Devices by 125.9% in the third quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock worth $5,291,000 after buying an additional 336,584 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.