908 Devices Inc. (NASDAQ:MASS) Sees Significant Growth in Short Interest

908 Devices Inc. (NASDAQ:MASS) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,850,000 shares, a growth of 26.7% from the February 28th total of 2,250,000 shares. Based on an average daily volume of 2,990,000 shares, the short-interest ratio is presently 1.0 days. Approximately 11.1% of the shares of the company are sold short.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently modified their holdings of MASS. Hsbc Holdings PLC boosted its holdings in 908 Devices by 32.2% in the 4th quarter. Hsbc Holdings PLC now owns 21,007 shares of the company’s stock valued at $46,000 after purchasing an additional 5,112 shares during the period. State Street Corp boosted its position in shares of 908 Devices by 1.2% during the 3rd quarter. State Street Corp now owns 479,044 shares of the company’s stock valued at $1,662,000 after acquiring an additional 5,704 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 908 Devices by 1.2% during the third quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock worth $1,970,000 after purchasing an additional 6,634 shares in the last quarter. LPL Financial LLC increased its position in shares of 908 Devices by 13.0% in the fourth quarter. LPL Financial LLC now owns 63,287 shares of the company’s stock worth $139,000 after purchasing an additional 7,295 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in 908 Devices in the 3rd quarter worth approximately $45,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MASS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of 908 Devices in a research note on Saturday, March 22nd. Stephens reissued an “overweight” rating and issued a $6.00 target price on shares of 908 Devices in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.33.

908 Devices Price Performance

Shares of NASDAQ:MASS traded down $0.17 during trading on Wednesday, hitting $3.90. 563,995 shares of the company were exchanged, compared to its average volume of 953,920. The stock has a 50 day moving average of $3.13 and a 200 day moving average of $2.96. The company has a market cap of $137.79 million, a PE ratio of -2.20 and a beta of 0.99. 908 Devices has a 52-week low of $1.81 and a 52-week high of $7.48.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.