Wall Street Zen upgraded shares of 908 Devices (NASDAQ:MASS – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.
Several other equities analysts have also recently weighed in on MASS. Roth Capital raised their target price on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Stifel Nicolaus increased their price target on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.
Read Our Latest Stock Analysis on 908 Devices
908 Devices Price Performance
908 Devices (NASDAQ:MASS – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm 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%. On average, sell-side analysts expect that 908 Devices will post -0.8 EPS for the current year.
Insider Buying and Selling at 908 Devices
In other news, Director Christopher D. Brown sold 8,358 shares of 908 Devices 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 sale, the director owned 805,559 shares of the company’s stock, valued at approximately $7,435,309.57. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a 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, CFO Joseph H. Iv Griffith sold 11,459 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total transaction of $125,476.05. Following the transaction, the chief financial officer directly owned 121,497 shares in the company, valued at approximately $1,330,392.15. This represents a 8.62% decrease in their ownership of the stock. 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 a total of 81,459 shares of company stock valued at $742,522 over the last 90 days. 28.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in shares of 908 Devices in the second quarter valued at approximately $27,000. Allworth Financial LP acquired a new stake in 908 Devices during the second quarter worth approximately $29,000. California State Teachers Retirement System grew its position in 908 Devices by 128.3% during the second quarter. California State Teachers Retirement System now owns 3,384 shares of the company’s stock worth $29,000 after buying an additional 1,902 shares in the last quarter. Raymond James Financial Inc. bought a new position in 908 Devices during the 2nd quarter worth $48,000. Finally, Intelligence Driven Advisers LLC bought a new position in 908 Devices during the 1st quarter worth $61,000. Institutional investors and hedge funds 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.
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