908 Devices (NASDAQ:MASS) Stock Rating Upgraded by Wall Street Zen

908 Devices (NASDAQ:MASS) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research note 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.00.

908 Devices Price Performance

MASS opened at $6.07 on Friday. The firm has a market cap of $226.90 million, a PE ratio of 11.04 and a beta of 0.47. The stock has a 50-day moving average price of $6.32 and a 200-day moving average price of $6.64. 908 Devices has a 1 year low of $3.55 and a 1 year high of $9.34.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. 908 Devices had a net margin of 34.68% and a negative return on equity of 14.99%. As a group, sell-side analysts anticipate that 908 Devices will post -1.99 EPS for the current year.

Insider Activity at 908 Devices

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

Hedge Funds Weigh In On 908 Devices

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted 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 acquiring an additional 1,894 shares during the last quarter. Graham Capital Management L.P. raised its holdings in shares of 908 Devices by 12.9% during the fourth quarter. Graham Capital Management L.P. now owns 20,787 shares of the company’s stock valued at $109,000 after purchasing an additional 2,374 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in shares of 908 Devices during the third quarter valued at approximately $28,000. Cresset Asset Management LLC lifted its position in 908 Devices by 37.1% during the third 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. Finally, Barclays PLC lifted its position in 908 Devices by 15.4% during the fourth quarter. Barclays PLC now owns 44,528 shares of the company’s stock valued at $234,000 after purchasing an additional 5,943 shares during the period. 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.