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

Key Points

• 908 Devices was downgraded by Wall Street Zen from buy to hold, while Weiss Ratings cut it from hold to sell. The stock now has a consensus Hold rating and an average target price of $12.00.
• The company’s shares opened at $7.35, below the analyst target and within a 52-week range of $5.03 to $9.34. 908 Devices has a market cap of about $277.9 million and a negative P/E ratio.
• Insider selling has been notable, including recent sales by the SVP and CFO; insiders sold a total of 96,927 shares last quarter. Meanwhile, institutional investors remain heavily involved, owning about 88.06% of the stock.

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 report issued on Saturday.

Separately, Weiss Ratings cut 908 Devices from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.00.

908 Devices Stock Performance

Shares of MASS opened at $7.35 on Friday. 908 Devices has a fifty-two week low of $5.03 and a fifty-two week high of $9.34. The firm's 50-day simple moving average is $8.14 and its two-hundred day simple moving average is $7.04. The stock has a market cap of $277.90 million, a PE ratio of -7.35 and a beta of 0.63.

Insider Transactions at 908 Devices

In other 908 Devices news, SVP John Kenneweg sold 7,787 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $6.83, for a total transaction of $53,185.21. Following the completion of the sale, the senior vice president directly owned 76,039 shares in the company, valued at approximately $519,346.37. This trade represents a 9.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $9.03, for a total transaction of $62,668.20. Following the completion of the transaction, the chief financial officer directly owned 132,956 shares of the company's stock, valued at $1,200,592.68. This trade represents a 4.96% decrease in their ownership of the stock. 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 96,927 shares of company stock valued at $815,293 in the last quarter. 28.20% of the stock is owned by insiders.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors have recently made changes to their positions in MASS. Raymond James Financial Inc. purchased a new position in 908 Devices in the 2nd quarter worth approximately $48,000. Intelligence Driven Advisers LLC bought a new position in 908 Devices in the 1st quarter valued at approximately $61,000. Daiwa Securities Group Inc. purchased a new stake in 908 Devices during the 2nd quarter valued at $61,000. PCM Encore LLC purchased a new stake in 908 Devices during the 4th quarter valued at $62,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of 908 Devices in the 2nd quarter worth $77,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.