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 to clients and investors on Saturday.

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

908 Devices Stock Down 2.1%

MASS stock opened at $8.79 on Friday. The business has a 50 day moving average price of $7.84 and a 200 day moving average price of $6.79. The stock has a market cap of $332.54 million, a price-to-earnings ratio of -8.79 and a beta of 0.63. 908 Devices has a fifty-two week low of $5.03 and a fifty-two week high of $9.34.

Insider Transactions at 908 Devices

In other news, SVP John Kenneweg sold 7,787 shares of 908 Devices 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 sale, the senior vice president owned 76,039 shares in the company, valued at approximately $519,346.37. The trade was a 9.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 business’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 completion of the sale, the director directly owned 895,559 shares of the company’s stock, valued at $8,060,031. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 161,420 shares of company stock worth $1,265,697. 28.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MASS. First Light Asset Management LLC boosted its holdings in shares of 908 Devices by 25.6% in 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 acquiring an additional 1,236,377 shares during the period. ARK Investment Management LLC increased its holdings in shares of 908 Devices by 1.6% in the 4th quarter. ARK Investment Management LLC now owns 1,985,986 shares of the company’s stock valued at $10,426,000 after acquiring an additional 32,214 shares during the period. Needham Investment Management LLC raised its position in 908 Devices by 246.8% in the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after purchasing an additional 548,000 shares during the last quarter. Granahan Investment Management LLC raised its position in 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 last quarter. Finally, Geode Capital Management LLC boosted its stake in 908 Devices by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 688,566 shares of the company’s stock worth $3,616,000 after purchasing an additional 16,477 shares during the period. Hedge funds and other institutional investors 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.