908 Devices (NASDAQ:MASS) Stock Price Up 7.6% – Time to Buy?

908 Devices Inc. (NASDAQ:MASS)’s stock price traded up 7.6% on Friday . The company traded as high as $5.84 and last traded at $5.84. Approximately 2,817,785 shares traded hands during mid-day trading, an increase of 582% from the average session volume of 413,092 shares. The stock had previously closed at $5.43.

Wall Street Analyst Weigh In

Several analysts have recently commented on MASS shares. Wall Street Zen upgraded shares of 908 Devices from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.00.

908 Devices Stock Performance

The stock’s fifty day moving average price is $6.90 and its 200-day moving average price is $6.91. The firm has a market cap of $211.35 million, a PE ratio of -53.09 and a beta of 0.47.

908 Devices (NASDAQ:MASS) last issued its earnings results on Monday, November 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). 908 Devices had a negative net margin of 7.17% and a negative return on equity of 22.31%. The company had revenue of $14.01 million during the quarter, compared to analysts’ expectations of $13.58 million. Sell-side analysts forecast that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Joseph H. Iv Griffith sold 4,292 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $9.05, for a total value of $38,842.60. Following the sale, the chief financial officer directly owned 92,930 shares in the company, valued at $841,016.50. The trade was a 4.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. grew its holdings in 908 Devices by 210.6% during the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company’s stock valued at $23,296,000 after buying an additional 3,526,000 shares during the last quarter. First Light Asset Management LLC lifted its position in shares of 908 Devices by 135.2% in the third quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock valued at $21,992,000 after acquiring an additional 1,442,883 shares in the last quarter. GM Advisory Group LLC acquired a new stake in shares of 908 Devices during the second quarter valued at $8,309,000. Geode Capital Management LLC increased its position in 908 Devices by 11.7% during the 2nd quarter. Geode Capital Management LLC now owns 658,603 shares of the company’s stock worth $4,697,000 after purchasing an additional 68,764 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in 908 Devices in the 1st quarter valued at about $2,910,000. 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.