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

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

A number of other analysts have also weighed in on the stock. Stifel Nicolaus upped their target price on shares of 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Finally, Roth Capital boosted their price target on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, 908 Devices presently has an average rating of “Hold” and a consensus target price of $12.50.

908 Devices Price Performance

Shares of NASDAQ MASS opened at $10.73 on Friday. The company has a market cap of $443.47 million, a P/E ratio of -11.29 and a beta of 0.66. 908 Devices has a 52 week low of $5.03 and a 52 week high of $11.25. The business has a 50-day simple moving average of $8.76 and a two-hundred day simple moving average of $7.69.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%.The firm had revenue of $16.07 million for the quarter, compared to analysts’ expectations of $15.37 million. Equities research analysts anticipate that 908 Devices will post -0.8 EPS for the current year.

Insider Buying and Selling

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 11,459 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total value of $125,476.05. Following the completion of the transaction, the chief financial officer owned 121,497 shares of the company’s stock, valued at $1,330,392.15. The trade was a 8.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 8,358 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $9.23, for a total transaction of $77,144.34. Following the completion of the transaction, the director directly owned 805,559 shares in the company, valued at $7,435,309.57. The trade was a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 81,459 shares of company stock worth $742,522 over the last ninety days. 28.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new stake in 908 Devices during the first quarter valued at about $365,000. Geode Capital Management LLC lifted its stake in 908 Devices by 11.7% during the second quarter. Geode Capital Management LLC now owns 658,603 shares of the company’s stock worth $4,697,000 after purchasing an additional 68,764 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock worth $260,000 after purchasing an additional 1,894 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of 908 Devices by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 56,296 shares of the company’s stock worth $401,000 after purchasing an additional 10,482 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of 908 Devices during the 2nd quarter valued at about $82,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.