908 Devices Inc. (NASDAQ:MASS) Short Interest Up 20.0% in February

908 Devices Inc. (NASDAQ:MASSGet Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 3,828,392 shares, an increase of 20.0% from the January 29th total of 3,189,641 shares. Based on an average trading volume of 333,907 shares, the short-interest ratio is currently 11.5 days. Approximately 13.9% of the company’s stock are sold short. Approximately 13.9% of the company’s stock are sold short. Based on an average trading volume of 333,907 shares, the short-interest ratio is currently 11.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.00.

View Our Latest Stock Report on MASS

Insider Buying and Selling at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 23,175 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $6.18, for a total value of $143,221.50. Following the transaction, the chief financial officer owned 139,896 shares in the company, valued at $864,557.28. The trade was a 14.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.70% of the stock is owned by insiders.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in shares of 908 Devices by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after buying an additional 1,894 shares during the period. Graham Capital Management L.P. lifted its holdings in 908 Devices by 12.9% in the fourth quarter. Graham Capital Management L.P. now owns 20,787 shares of the company’s stock valued at $109,000 after acquiring an additional 2,374 shares during the period. Nisa Investment Advisors LLC boosted its position in 908 Devices by 453.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock worth $27,000 after purchasing an additional 3,100 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in 908 Devices in the third quarter worth about $28,000. Finally, Cresset Asset Management LLC grew its stake in shares of 908 Devices by 37.1% during the 3rd quarter. Cresset Asset Management LLC now owns 16,100 shares of the company’s stock valued at $141,000 after purchasing an additional 4,355 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

908 Devices Price Performance

908 Devices stock opened at $6.32 on Wednesday. 908 Devices has a one year low of $2.67 and a one year high of $9.34. The business’s fifty day moving average is $6.15 and its 200 day moving average is $6.64. The stock has a market capitalization of $228.72 million, a PE ratio of -57.45 and a beta of 0.47.

Key Headlines Impacting 908 Devices

Here are the key news stories impacting 908 Devices this week:

908 Devices Company Profile

(Get Free Report)

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.

Further Reading

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