908 Devices (NASDAQ:MASS) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of 908 Devices (NASDAQ:MASS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings upgraded shares of 908 Devices from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, 908 Devices has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

908 Devices Stock Up 1.1%

NASDAQ MASS opened at $8.17 on Friday. The stock has a market capitalization of $308.91 million, a PE ratio of -8.17 and a beta of 0.57. The company has a 50 day moving average price of $6.66 and a two-hundred day moving average price of $6.49. 908 Devices has a 12-month low of $4.20 and a 12-month high of $9.34.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $17.38 million during the quarter, compared to analysts’ expectations of $16.19 million. 908 Devices had a negative net margin of 62.40% and a negative return on equity of 14.03%. As a group, equities analysts anticipate that 908 Devices will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, SVP John Kenneweg sold 7,787 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 76,039 shares of the company’s stock, valued at approximately $519,346.37. The trade was a 9.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher D. Brown sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $7.23, for a total transaction of $144,600.00. Following the transaction, the director directly owned 925,559 shares in the company, valued at $6,691,791.57. This trade represents a 2.12% 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. Over the last quarter, insiders have sold 94,480 shares of company stock valued at $668,032. 23.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC increased its position in 908 Devices by 92.6% during the fourth quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company’s stock worth $25,390,000 after acquiring an additional 2,325,690 shares during the period. ARK Investment Management LLC increased its position in 908 Devices by 1.6% during the fourth quarter. ARK Investment Management LLC now owns 1,985,986 shares of the company’s stock worth $10,426,000 after acquiring an additional 32,214 shares during the period. Needham Investment Management LLC increased its position in 908 Devices by 246.8% during the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after acquiring an additional 548,000 shares during the period. Geode Capital Management LLC increased its position in 908 Devices by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 688,566 shares of the company’s stock worth $3,616,000 after acquiring an additional 16,477 shares during the period. Finally, Marshall Wace LLP increased its position in 908 Devices by 359.4% during the second quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock worth $4,626,000 after acquiring an additional 507,562 shares during the period. 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.