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

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

Separately, Weiss Ratings lowered shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One investment 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.

908 Devices Stock Performance

Shares of NASDAQ:MASS opened at $7.35 on Friday. 908 Devices has a fifty-two week low of $5.03 and a fifty-two week high of $9.34. The business has a 50-day simple moving average of $8.14 and a two-hundred day simple moving average of $7.04. The firm has a market cap of $277.90 million, a price-to-earnings ratio of -7.35 and a beta of 0.63.

Insider Buying and Selling at 908 Devices

In related news, Director Christopher D. Brown sold 9,900 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $9.04, for a total value of $89,496.00. Following the transaction, the director owned 865,559 shares of the company’s stock, valued at approximately $7,824,653.36. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $6.83, for a total transaction of $53,185.21. Following the sale, the senior vice president directly owned 76,039 shares of the company’s stock, valued at approximately $519,346.37. This represents a 9.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 96,927 shares of company stock worth $815,293 in the last three months. 28.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds have recently modified their holdings of the business. Prescott Group Capital Management L.L.C. raised its holdings in 908 Devices by 90.3% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock worth $1,898,000 after purchasing an additional 171,590 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new stake in 908 Devices in the fourth quarter worth about $630,000. Meros Investment Management LP raised its stake in shares of 908 Devices by 232.7% in the fourth quarter. Meros Investment Management LP now owns 347,035 shares of the company’s stock worth $1,822,000 after buying an additional 242,712 shares during the period. Needham Investment Management LLC lifted its position in shares of 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after buying an additional 548,000 shares in the last quarter. Finally, HighMark Wealth Management LLC purchased a new position in shares of 908 Devices during the 4th quarter valued at about $1,265,000. 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.