908 Devices (NASDAQ:MASS) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of 908 Devices (NASDAQ:MASS) from a buy rating to a hold rating in a research report report published on Saturday.

Separately, Weiss Ratings cut 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

908 Devices Price Performance

908 Devices stock opened at $7.03 on Friday. The business has a 50 day simple moving average of $8.13 and a 200 day simple moving average of $7.06. The company has a market capitalization of $265.80 million, a PE ratio of -7.03 and a beta of 0.63. 908 Devices has a one year low of $5.03 and a one year high of $9.34.

Insider Activity at 908 Devices

In other 908 Devices news, SVP John Kenneweg sold 7,787 shares of 908 Devices stock in a transaction on Friday, May 1st. The stock was sold at an average price of $6.83, for a total value of $53,185.21. Following the completion of the transaction, the senior vice president owned 76,039 shares in the company, valued at approximately $519,346.37. The trade was a 9.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher D. Brown sold 9,900 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $9.04, for a total value of $89,496.00. Following the completion of the transaction, the director directly owned 865,559 shares in the company, valued at approximately $7,824,653.36. This represents a 1.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 96,927 shares of company stock valued at $815,293 in the last three months. Corporate insiders own 28.20% of the company’s stock.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds have recently added to or reduced their stakes in the stock. First Light Asset Management LLC grew its stake in shares of 908 Devices by 92.6% during the fourth quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company’s stock valued at $25,390,000 after purchasing an additional 2,325,690 shares during the last quarter. Granahan Investment Management LLC raised its position in 908 Devices by 662.6% in the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock worth $4,254,000 after purchasing an additional 603,929 shares during the last quarter. Needham Investment Management LLC raised its position in 908 Devices by 246.8% in the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after purchasing an additional 548,000 shares during the last quarter. Marshall Wace LLP lifted its holdings in 908 Devices by 359.4% during the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock worth $4,626,000 after buying an additional 507,562 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in 908 Devices by 221.7% during the 2nd quarter. Bank of America Corp DE now owns 363,217 shares of the company’s stock worth $2,590,000 after buying an additional 250,311 shares in the last quarter. Institutional investors 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.