908 Devices Inc. (NASDAQ:MASS) Short Interest Up 26.7% in March

908 Devices Inc. (NASDAQ:MASS) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 2,850,000 shares, an increase of 26.7% from the February 28th total of 2,250,000 shares. Approximately 11.1% of the company’s stock are short sold. Based on an average trading volume of 2,990,000 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of 908 Devices in a research report on Saturday, March 22nd. Stephens restated an “overweight” rating and issued a $6.00 target price on shares of 908 Devices in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

908 Devices Price Performance

Shares of NASDAQ MASS traded down $0.18 during mid-day trading on Tuesday, reaching $4.30. 385,602 shares of the company’s stock were exchanged, compared to its average volume of 947,759. The firm has a 50-day moving average price of $3.09 and a two-hundred day moving average price of $2.95. The firm has a market capitalization of $151.92 million, a price-to-earnings ratio of -2.41 and a beta of 0.99. 908 Devices has a 52 week low of $1.81 and a 52 week high of $7.56.

Institutional Trading of 908 Devices

Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of 908 Devices by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 220,477 shares of the company’s stock worth $765,000 after purchasing an additional 28,015 shares during the last quarter. Geode Capital Management LLC grew its holdings in 908 Devices by 1.2% during the third quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock valued at $1,970,000 after purchasing an additional 6,634 shares during the period. State Street Corp increased its position in 908 Devices by 1.2% in the third quarter. State Street Corp now owns 479,044 shares of the company’s stock worth $1,662,000 after buying an additional 5,704 shares during the last quarter. Barclays PLC raised its stake in shares of 908 Devices by 452.7% in the third quarter. Barclays PLC now owns 46,214 shares of the company’s stock valued at $160,000 after buying an additional 37,853 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of 908 Devices in the fourth quarter valued at $52,000. Institutional investors own 88.06% of the company’s stock.

About 908 Devices

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.