Wall Street Zen Downgrades 908 Devices (NASDAQ:MASS) to Hold

908 Devices (NASDAQ:MASS) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

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

908 Devices Price Performance

MASS opened at $8.17 on Friday. 908 Devices has a 12 month low of $4.20 and a 12 month high of $9.34. The stock has a market cap of $308.91 million, a P/E ratio of -8.17 and a beta of 0.57. The stock’s 50 day moving average price is $6.66 and its 200 day moving average price is $6.49.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%.The firm had revenue of $17.38 million for the quarter, compared to analysts’ expectations of $16.19 million. Equities analysts anticipate that 908 Devices will post -0.38 EPS for the current year.

Insider Activity

In other news, Director Christopher D. Brown sold 20,000 shares of 908 Devices stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $7.23, for a total transaction of $144,600.00. Following the transaction, the director directly owned 925,559 shares in the company, valued at approximately $6,691,791.57. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of 908 Devices stock in a transaction on Friday, May 1st. The shares were sold at an average price of $6.83, for a total value of $53,185.21. Following the transaction, the senior vice president owned 76,039 shares in the company, valued at approximately $519,346.37. This trade represents a 9.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 94,480 shares of company stock worth $668,032. 28.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On 908 Devices

Several hedge funds have recently modified their holdings of MASS. Farther Finance Advisors LLC acquired a new position in shares of 908 Devices during the 3rd quarter valued at $28,000. Raymond James Financial Inc. acquired a new position in shares of 908 Devices during the 2nd quarter valued at $48,000. Daiwa Securities Group Inc. bought a new stake in shares of 908 Devices during the 2nd quarter worth $61,000. PCM Encore LLC bought a new stake in shares of 908 Devices during the 4th quarter worth $62,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of 908 Devices during the 2nd quarter worth $77,000. 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.