908 Devices (NASDAQ:MASS) Downgraded to Hold Rating by Wall Street Zen

Key Points

• 908 Devices (NASDAQ:MASS) was downgraded by Wall Street Zen from buy to hold, though Weiss Ratings recently moved the stock the other way, from sell to hold.
• The stock was trading up about 1.1% at $8.17, and MarketBeat says the consensus analyst rating remains Moderate Buy with an average price target of $12.00.
• Recent quarterly results showed a smaller-than-expected loss and higher-than-expected revenue, but the company still posted negative margins; insiders have also been selling shares, including SVP John Kenneweg and SVP Kevin J. Mccallion.

908 Devices (NASDAQ:MASS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings upgraded 908 Devices from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, 908 Devices currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

908 Devices Trading Up 1.1%

Shares of MASS opened at $8.17 on Friday. The business's 50 day moving average is $6.66 and its 200 day moving average is $6.49. The company has a market capitalization of $308.91 million, a PE ratio of -8.17 and a beta of 0.57. 908 Devices has a 12-month low of $4.20 and a 12-month high of $9.34.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $17.38 million during the quarter, compared to analysts' expectations of $16.19 million. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%. Equities research analysts predict that 908 Devices will post -0.41 earnings per share for the current year.

Insider Transactions at 908 Devices

In other news, SVP John Kenneweg sold 7,787 shares of 908 Devices stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.83, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Kevin J. Mccallion sold 18,580 shares of 908 Devices stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $7.05, for a total value of $130,989.00. Following the completion of the transaction, the senior vice president owned 44,925 shares of the company's stock, valued at approximately $316,721.25. This trade represents a 29.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 94,480 shares of company stock worth $668,032. 23.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company's stock worth $260,000 after purchasing an additional 1,894 shares during the period. Graham Capital Management L.P. lifted its stake in shares of 908 Devices by 12.9% during the 4th quarter. Graham Capital Management L.P. now owns 20,787 shares of the company's stock worth $109,000 after acquiring an additional 2,374 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in shares of 908 Devices during the 3rd quarter worth approximately $28,000. Cresset Asset Management LLC lifted 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 worth $141,000 after acquiring an additional 4,355 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of 908 Devices by 15.4% during the 4th quarter. Barclays PLC now owns 44,528 shares of the company's stock worth $234,000 after acquiring an additional 5,943 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

908 Devices Company Profile

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.

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