908 Devices (NASDAQ:MASS) Shares Down 0.4% – Here’s Why

Shares of 908 Devices Inc. (NASDAQ:MASS) fell 0.4% on Friday . The company traded as low as $5.38 and last traded at $5.40. 264,743 shares were traded during trading, a decline of 49% from the average session volume of 517,250 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

Several brokerages have weighed in on MASS. Wall Street Zen raised shares of 908 Devices from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.00.

908 Devices Trading Down 0.4%

The stock’s 50-day moving average price is $6.03 and its 200-day moving average price is $6.73. The company has a market capitalization of $195.43 million, a P/E ratio of -49.09 and a beta of 0.48.

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

Institutional Trading of 908 Devices

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in 908 Devices during the 1st quarter valued at approximately $365,000. Old Port Advisors bought a new stake in 908 Devices in the second quarter valued at $525,000. Nisa Investment Advisors LLC boosted its holdings in shares of 908 Devices by 453.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock valued at $27,000 after acquiring an additional 3,100 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of 908 Devices by 67.0% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 38,186 shares of the company’s stock valued at $272,000 after acquiring an additional 15,324 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew its position in shares of 908 Devices by 49.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company’s stock worth $47,000 after acquiring an additional 2,176 shares during the last quarter. Institutional investors 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.