Short Interest in 908 Devices Inc. (NASDAQ:MASS) Expands By 8.9%

908 Devices Inc. (NASDAQ:MASS) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 1,340,000 shares, a growth of 8.9% from the April 15th total of 1,230,000 shares. Approximately 5.4% of the shares of the company are sold short. Based on an average daily volume of 175,200 shares, the days-to-cover ratio is currently 7.6 days.

908 Devices Stock Up 1.3 %

NASDAQ:MASS opened at $7.24 on Thursday. 908 Devices has a twelve month low of $4.85 and a twelve month high of $12.51. The company has a fifty day moving average of $6.34 and a 200-day moving average of $7.11. The firm has a market capitalization of $249.71 million, a P/E ratio of -6.77 and a beta of 1.02.

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

Analysts Set New Price Targets

Separately, Stephens reaffirmed an “overweight” rating and set a $14.00 price target on shares of 908 Devices in a research note on Monday.

Insider Buying and Selling at 908 Devices

In other news, CEO Kevin J. Knopp acquired 10,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $5.83 per share, with a total value of $58,300.00. Following the acquisition, the chief executive officer now directly owns 488,981 shares in the company, valued at approximately $2,850,759.23. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders acquired 30,000 shares of company stock valued at $178,500 in the last quarter. 27.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 908 Devices

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in 908 Devices by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after acquiring an additional 6,772 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in 908 Devices during the 1st quarter valued at $80,000. Granahan Investment Management LLC lifted its position in shares of 908 Devices by 10.6% during the fourth quarter. Granahan Investment Management LLC now owns 2,038,658 shares of the company’s stock worth $22,874,000 after acquiring an additional 195,368 shares in the last quarter. Iron Triangle Partners LP boosted its stake in 908 Devices by 31.1% in the 4th quarter. Iron Triangle Partners LP now owns 1,284,947 shares of the company’s stock worth $14,417,000 after purchasing an additional 304,484 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of 908 Devices by 5.0% in the fourth quarter. New York State Common Retirement Fund now owns 74,033 shares of the company’s stock worth $831,000 after buying an additional 3,508 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

About 908 Devices

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.