908 Devices (NASDAQ:MASS) Raised to "Strong-Buy" at Roth Capital

Key Points

• Roth Capital upgraded 908 Devices to “strong buy,” although analyst opinions remain mixed; MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $11.50.
• Shares opened at $7.60 and were reported up 8.1%, with a market capitalization of approximately $287.4 million and a 52-week range of $5.03 to $9.34.
• Insiders sold 96,927 shares worth roughly $815,000 over the past 90 days, while institutional investors own 88.06% of the company.

908 Devices (NASDAQ:MASS - Get Free Report) was upgraded by stock analysts at Roth Capital to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded 908 Devices from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of 908 Devices from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.50.

908 Devices Trading Up 8.1%

NASDAQ MASS opened at $7.60 on Wednesday. The company has a market cap of $287.36 million, a price-to-earnings ratio of -7.60 and a beta of 0.63. The company has a 50 day moving average of $8.14 and a 200-day moving average of $7.16. 908 Devices has a 1-year low of $5.03 and a 1-year high of $9.34.

Insider Activity at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total transaction of $62,668.20. Following the sale, the chief financial officer directly owned 132,956 shares of the company's stock, valued at approximately $1,200,592.68. The trade was a 4.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.83, for a total transaction of $53,185.21. Following the transaction, the senior vice president owned 76,039 shares of the company's stock, valued at approximately $519,346.37. This represents a 9.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 96,927 shares of company stock valued at $815,293 over the last ninety days. 28.20% of the stock is owned by corporate insiders.

Institutional Trading of 908 Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of 908 Devices in the 2nd quarter valued at $48,000. Daiwa Securities Group Inc. acquired a new position in 908 Devices in the 2nd quarter worth about $61,000. Intelligence Driven Advisers LLC bought a new position in 908 Devices in the first quarter valued at about $61,000. Russell Investments Group Ltd. bought a new position in 908 Devices in the third quarter valued at about $93,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of 908 Devices during the second quarter valued at about $77,000. 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.

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