908 Devices Inc. (NASDAQ:MASS) Given Average Recommendation of “Buy” by Analysts

908 Devices Inc. (NASDAQ:MASS) has received an average recommendation of “Buy” from the four analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.00.

MASS has been the topic of several recent analyst reports. Wall Street Zen cut 908 Devices from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research note on Tuesday, July 29th. Leerink Partners raised 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Tuesday, August 5th. Finally, Leerink Partnrs raised 908 Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th.

Insider Activity

In other 908 Devices news, insider Michael S. Turner sold 7,148 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total value of $53,681.48. Following the completion of the sale, the insider directly owned 1,373 shares in the company, valued at $10,311.23. This trade represents a 83.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was 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 owned 102,930 shares of the company’s stock, valued at $728,744.40. This trade represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,543 shares of company stock valued at $233,890 over the last 90 days. 23.70% of the stock is currently owned by company insiders.

Institutional Trading of 908 Devices

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after purchasing an additional 1,894 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 908 Devices by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company’s stock valued at $233,000 after purchasing an additional 1,985 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in shares of 908 Devices by 49.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company’s stock valued at $47,000 after purchasing an additional 2,176 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of 908 Devices by 453.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock valued at $27,000 after purchasing an additional 3,100 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of 908 Devices by 10.8% during the first quarter. American Century Companies Inc. now owns 45,814 shares of the company’s stock valued at $205,000 after purchasing 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 Trading Up 9.0%

Shares of NASDAQ:MASS opened at $7.05 on Friday. The stock has a market capitalization of $252.82 million, a P/E ratio of -13.06 and a beta of 0.37. 908 Devices has a 12-month low of $1.81 and a 12-month high of $8.06. The stock’s 50-day moving average price is $6.89 and its 200-day moving average price is $5.03.

908 Devices (NASDAQ:MASS) last posted 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). The business had revenue of $4.70 million during the quarter, compared to the consensus estimate of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. As a group, research analysts predict that 908 Devices will post -1.99 EPS for the current year.

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.