Roth Capital upgraded shares of 908 Devices (NASDAQ:MASS – Free Report) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.
Several other equities research analysts have also commented on the stock. Weiss Ratings lowered shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.50.
Read Our Latest Research Report on 908 Devices
908 Devices Stock Performance
Insider Activity
In related news, SVP John Kenneweg sold 7,787 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $6.83, for a total value of $53,185.21. Following the completion of the sale, the senior vice president directly owned 76,039 shares of the company’s stock, valued at approximately $519,346.37. This represents a 9.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher D. Brown sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $9.00, for a total transaction of $270,000.00. Following the sale, the director owned 895,559 shares in the company, valued at approximately $8,060,031. The trade was a 3.24% 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. Insiders have sold a total of 96,927 shares of company stock valued at $815,293 in the last ninety days. Corporate insiders own 28.20% of the company’s stock.
Institutional Trading of 908 Devices
Hedge funds and other institutional investors have recently modified their holdings of the company. Prescott Group Capital Management L.L.C. lifted its stake in shares of 908 Devices by 90.3% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock valued at $1,898,000 after buying an additional 171,590 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new stake in 908 Devices during the fourth quarter valued at about $630,000. First Light Asset Management LLC lifted its position in shares of 908 Devices by 25.6% in the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock valued at $37,164,000 after acquiring an additional 1,236,377 shares in the last quarter. Meros Investment Management LP boosted its stake in shares of 908 Devices by 232.7% in the fourth quarter. Meros Investment Management LP now owns 347,035 shares of the company’s stock worth $1,822,000 after acquiring an additional 242,712 shares during the period. Finally, Granahan Investment Management LLC raised its stake in 908 Devices by 662.6% during the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after purchasing an additional 603,929 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.
About 908 Devices
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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