Analysts Set 908 Devices Inc. (NASDAQ:MASS) PT at $8.00

908 Devices Inc. (NASDAQ:MASS) has been given an average rating of “Buy” by the four research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of equities analysts recently weighed in on MASS shares. Leerink Partners upgraded shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Tuesday, August 5th. Leerink Partnrs upgraded shares of 908 Devices from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 5th. Wall Street Zen lowered shares of 908 Devices from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a report on Tuesday, July 29th.

908 Devices Stock Performance

MASS stock opened at $7.05 on Friday. The firm has a 50 day moving average price of $6.89 and a 200-day moving average price of $5.03. 908 Devices has a 52-week low of $1.81 and a 52-week high of $8.06. The firm has a market capitalization of $252.82 million, a price-to-earnings ratio of -13.06 and a beta of 0.37.

908 Devices (NASDAQ:MASS) last released its earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. The business had revenue of $4.70 million for the quarter, compared to analysts’ expectations of $12.17 million. As a group, sell-side analysts forecast that 908 Devices will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 6,940 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $7.08, for a total transaction of $49,135.20. Following the completion of the sale, the chief financial officer directly owned 102,930 shares in the company, valued at approximately $728,744.40. The trade was a 6.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael S. Turner sold 16,082 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the sale, the insider owned 8,521 shares of the company’s stock, valued at approximately $63,992.71. This represents a 65.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,543 shares of company stock valued at $233,890. 23.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in 908 Devices by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after buying an additional 1,894 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 908 Devices by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company’s stock valued at $233,000 after buying an additional 1,985 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its stake in 908 Devices by 49.7% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company’s stock valued at $47,000 after buying an additional 2,176 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in 908 Devices by 453.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock valued at $27,000 after buying an additional 3,100 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in 908 Devices by 10.8% during the 1st quarter. American Century Companies Inc. now owns 45,814 shares of the company’s stock valued at $205,000 after buying an additional 4,471 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

908 Devices Company Profile

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.