908 Devices (NASDAQ:MASS) Upgraded to “Buy” at Wall Street Zen

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

Separately, Weiss Ratings lowered 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.00.

908 Devices Price Performance

908 Devices stock opened at $7.93 on Friday. The stock’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $6.54. 908 Devices has a one year low of $5.03 and a one year high of $9.34. The firm has a market cap of $299.83 million, a PE ratio of -7.93 and a beta of 0.63.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%.The firm had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. Sell-side analysts expect that 908 Devices will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher D. Brown sold 30,000 shares of 908 Devices stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.00, for a total value of $270,000.00. Following the transaction, the director owned 895,559 shares in the company, valued at approximately $8,060,031. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total value of $62,668.20. Following the completion of the transaction, the chief financial officer owned 132,956 shares in the company, valued at approximately $1,200,592.68. The trade was a 4.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 151,520 shares of company stock worth $1,176,201. 28.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 908 Devices

Several hedge funds have recently modified their holdings of the company. First Light Asset Management LLC boosted its holdings in shares of 908 Devices by 25.6% during the 1st quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock valued at $37,164,000 after acquiring an additional 1,236,377 shares in the last quarter. Intelligence Driven Advisers LLC acquired a new stake in shares of 908 Devices during the 1st quarter valued at $61,000. Granahan Investment Management LLC boosted its holdings in shares of 908 Devices by 662.6% during the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after acquiring an additional 603,929 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 908 Devices by 3.6% during the 1st quarter. Renaissance Technologies LLC now owns 230,200 shares of the company’s stock valued at $1,409,000 after acquiring an additional 8,100 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of 908 Devices by 101.2% during the 1st quarter. Sei Investments Co. now owns 164,894 shares of the company’s stock valued at $1,009,000 after acquiring an additional 82,934 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.