908 Devices (NASDAQ:MASS) Rating Increased to Strong-Buy at Roth Capital

908 Devices (NASDAQ:MASS) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on the company. Wall Street Zen downgraded 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings downgraded 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 Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.50.

908 Devices Stock Performance

MASS stock opened at $7.60 on Wednesday. The company has a fifty day moving average price of $8.14 and a 200-day moving average price of $7.16. The company has a market capitalization of $287.36 million, a P/E ratio of -7.60 and a beta of 0.63. 908 Devices has a 52-week low of $5.03 and a 52-week high of $9.34.

Insider Activity

In related news, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total transaction of $62,668.20. Following the completion of the transaction, the chief financial officer owned 132,956 shares of the company’s stock, valued at $1,200,592.68. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $6.83, for a total transaction 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 96,927 shares of company stock valued at $815,293. 28.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC boosted its position in shares of 908 Devices by 25.6% during the 1st quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock valued at $37,164,000 after purchasing an additional 1,236,377 shares in the last quarter. Intelligence Driven Advisers LLC acquired a new stake in 908 Devices during the first quarter worth approximately $61,000. Granahan Investment Management LLC increased its holdings in 908 Devices by 662.6% in the first 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 in the last quarter. Renaissance Technologies LLC increased its holdings in 908 Devices by 3.6% in the first quarter. Renaissance Technologies LLC now owns 230,200 shares of the company’s stock worth $1,409,000 after purchasing an additional 8,100 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in 908 Devices by 101.2% in the first quarter. Sei Investments Co. now owns 164,894 shares of the company’s stock valued at $1,009,000 after buying an additional 82,934 shares during the period. 88.06% of the stock is owned by 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.