908 Devices (NASDAQ:MASS) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of 908 Devices (NASDAQ:MASS) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus upped their target price on 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Canaccord Genuity Group started coverage on shares of 908 Devices in a research note on Thursday, September 10th. They set a “buy” rating and a $13.50 price objective for the company. Finally, Roth Capital upped their price objective on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.83.

908 Devices Price Performance

Shares of MASS stock opened at $9.73 on Friday. The firm has a market capitalization of $402.18 million, a price-to-earnings ratio of -10.24 and a beta of 0.68. The business has a fifty day moving average of $9.03 and a 200 day moving average of $7.95. 908 Devices has a 1 year low of $5.03 and a 1 year high of $11.25.

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

Insider Transactions at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 11,459 shares of 908 Devices stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total transaction of $125,476.05. Following the completion of the transaction, the chief financial officer directly owned 121,497 shares in the company, valued at approximately $1,330,392.15. This trade represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher Brown sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $10.58, for a total value of $317,400.00. Following the completion of the transaction, the director directly owned 775,559 shares of the company’s stock, valued at $8,205,414.22. The trade was a 3.72% decrease in their ownership of the stock. 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. Insiders sold 91,359 shares of company stock worth $884,422 in the last 90 days. Company insiders own 28.20% of the company’s stock.

Institutional Investors Weigh In On 908 Devices

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of 908 Devices during the 2nd quarter valued at approximately $27,000. Allworth Financial LP acquired a new stake in 908 Devices during the second quarter valued at $29,000. California State Teachers Retirement System increased its holdings in 908 Devices by 128.3% in the second quarter. California State Teachers Retirement System now owns 3,384 shares of the company’s stock valued at $29,000 after buying an additional 1,902 shares in the last quarter. Intelligence Driven Advisers LLC purchased a new position in 908 Devices in the first quarter valued at $61,000. Finally, AXQ Capital LP acquired a new position in shares of 908 Devices in the second quarter worth about $93,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

908 Devices Company Profile

908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company’s technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.

Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.