908 Devices (NASDAQ:MASS) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of 908 Devices (NASDAQ:MASS) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $13.50 price objective on the stock.

MASS has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Wall Street Zen upgraded shares of 908 Devices from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Roth Capital raised their price target on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Stifel Nicolaus lifted their price target on 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, 908 Devices has a consensus rating of “Moderate Buy” and an average target price of $12.83.

908 Devices Price Performance

Shares of MASS opened at $9.52 on Thursday. 908 Devices has a 12 month low of $5.03 and a 12 month high of $11.25. The stock has a fifty day moving average price of $9.00 and a 200 day moving average price of $7.92. The company has a market cap of $393.46 million, a P/E ratio of -10.02 and a beta of 0.68.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%.The company had revenue of $16.07 million for the quarter, compared to analysts’ expectations of $15.37 million. As a group, research analysts anticipate that 908 Devices will post -0.8 earnings per share for the current year.

Insider Activity at 908 Devices

In related news, CFO Joseph Griffith, IV sold 11,459 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total value of $125,476.05. Following the sale, the chief financial officer directly owned 121,497 shares in the company, valued at $1,330,392.15. The trade was a 8.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $10.58, for a total value of $317,400.00. Following the completion of the transaction, the director directly owned 775,559 shares in the company, valued at $8,205,414.22. This represents a 3.72% 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 a total of 91,359 shares of company stock worth $884,422 in the last ninety days. Corporate insiders own 28.20% of the company’s stock.

Institutional Trading of 908 Devices

Large investors have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. grew its position in 908 Devices by 90.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock worth $1,898,000 after acquiring an additional 171,590 shares in the last quarter. BlackRock Inc. bought a new position in shares of 908 Devices during the 2nd quarter valued at $16,915,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of 908 Devices during the 4th quarter valued at $630,000. First Light Asset Management LLC lifted its stake in shares of 908 Devices by 25.6% in 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 during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of 908 Devices in the 2nd quarter valued at $962,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.