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

Key Points

• Wall Street Zen upgraded 908 Devices from “hold” to “buy,” joining Roth Capital and Stifel Nicolaus, which also maintain buy ratings. However, the overall analyst consensus remains “hold,” with a $12.50 price target.
• 908 Devices reported quarterly revenue of $16.07 million and an adjusted loss of $0.11 per share, beating analysts’ expectations, though the company continues to post negative profitability metrics.
• Institutional investors own 88.06% of the stock, while insiders sold 81,459 shares worth about $742,522 over the past quarter. Shares opened at $10.73, near their 52-week high of $11.25.

908 Devices (NASDAQ:MASS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other equities research analysts have also commented on MASS. Roth Capital boosted their price objective on 908 Devices from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research report on Friday, August 7th. Finally, Stifel Nicolaus lifted their price target on 908 Devices from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.50.

908 Devices Stock Down 3.3%

MASS opened at $10.73 on Friday. The company has a market cap of $443.47 million, a price-to-earnings ratio of -11.29 and a beta of 0.66. 908 Devices has a 52-week low of $5.03 and a 52-week high of $11.25. The firm's fifty day simple moving average is $8.76 and its two-hundred day simple moving average is $7.69.

908 Devices (NASDAQ:MASS - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. The business had revenue of $16.07 million during the quarter, compared to analysts' expectations of $15.37 million. On average, research analysts forecast that 908 Devices will post -0.8 EPS for the current year.

Insider Transactions at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 11,459 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total transaction of $125,476.05. Following the transaction, the chief financial officer directly owned 121,497 shares in the company, valued at approximately $1,330,392.15. The trade was a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 8,358 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $9.23, for a total transaction of $77,144.34. Following the sale, the director directly owned 805,559 shares of the company's stock, valued at approximately $7,435,309.57. This represents a 1.03% 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 81,459 shares of company stock valued at $742,522 over the last quarter. Company insiders own 28.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MASS. California State Teachers Retirement System grew its position in shares of 908 Devices by 128.3% in the second quarter. California State Teachers Retirement System now owns 3,384 shares of the company's stock valued at $29,000 after purchasing an additional 1,902 shares in the last quarter. Gainline Financial Partners LLC purchased a new position in 908 Devices during the second quarter worth approximately $107,000. AXQ Capital LP purchased a new position in 908 Devices during the second quarter worth approximately $93,000. Bank of America Corp DE acquired a new position in 908 Devices during the second quarter worth $2,184,000. Finally, AWM Investment Company Inc. acquired a new position in 908 Devices during the second quarter worth $42,454,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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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