908 Devices (NASDAQ:MASS) Downgraded by Wall Street Zen to Hold

908 Devices (NASDAQ:MASS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Separately, Weiss Ratings cut shares of 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.00.

908 Devices Stock Up 0.6%

Shares of NASDAQ MASS opened at $8.27 on Friday. 908 Devices has a fifty-two week low of $5.03 and a fifty-two week high of $9.34. The firm’s 50-day simple moving average is $7.48 and its 200 day simple moving average is $6.62. The stock has a market cap of $312.69 million, a P/E ratio of -8.27 and a beta of 0.63.

Insider Transactions at 908 Devices

In related news, SVP John Kenneweg sold 7,787 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $6.83, for a total transaction of $53,185.21. Following the completion of the transaction, the senior vice president owned 76,039 shares of the company’s stock, valued at $519,346.37. This trade represents a 9.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher D. Brown sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.00, for a total value of $270,000.00. Following the transaction, the director directly owned 895,559 shares of the company’s stock, valued at $8,060,031. This represents a 3.24% 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. Over the last ninety days, insiders sold 151,520 shares of company stock worth $1,176,201. Corporate insiders own 28.20% of the company’s stock.

Institutional Inflows and Outflows

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

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.