908 Devices (NASDAQ:MASS) Stock Price Up 7.6% – Should You Buy?

Shares of 908 Devices Inc. (NASDAQ:MASS) traded up 7.6% during trading on Friday . The stock traded as high as $5.84 and last traded at $5.84. 2,817,785 shares traded hands during mid-day trading, an increase of 582% from the average session volume of 413,092 shares. The stock had previously closed at $5.43.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MASS shares. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday, October 8th. Wall Street Zen upgraded 908 Devices from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

908 Devices Stock Performance

The business has a 50 day moving average of $6.90 and a two-hundred day moving average of $6.91. The stock has a market capitalization of $211.35 million, a PE ratio of -53.09 and a beta of 0.47.

908 Devices (NASDAQ:MASS) last announced its earnings results on Monday, November 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). 908 Devices had a negative return on equity of 22.31% and a negative net margin of 7.17%.The firm had revenue of $14.01 million during the quarter, compared to the consensus estimate of $13.58 million. On average, equities analysts expect that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 4,292 shares of 908 Devices stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $9.05, for a total value of $38,842.60. Following the transaction, the chief financial officer directly owned 92,930 shares of the company’s stock, valued at approximately $841,016.50. The trade was a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.70% of the stock is currently owned by company insiders.

Institutional Trading of 908 Devices

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its position in 908 Devices by 453.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock valued at $27,000 after buying an additional 3,100 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of 908 Devices during the third quarter valued at about $28,000. ANTIPODES PARTNERS Ltd raised its position in shares of 908 Devices by 49.7% in the 2nd 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. Raymond James Financial Inc. acquired a new stake in 908 Devices in the 2nd quarter worth approximately $48,000. Finally, Daiwa Securities Group Inc. purchased a new stake in 908 Devices during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.