908 Devices (NASDAQ:MASS) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of 908 Devices (NASDAQ:MASS) from a hold rating to a buy rating in a research note published on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.00.

908 Devices Trading Up 1.0%

Shares of NASDAQ:MASS opened at $6.07 on Friday. The company has a 50-day moving average price of $6.32 and a 200-day moving average price of $6.64. The company has a market cap of $226.90 million, a price-to-earnings ratio of 11.04 and a beta of 0.47. 908 Devices has a 12 month low of $3.55 and a 12 month high of $9.34.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.99% and a net margin of 34.68%.The company had revenue of $17.38 million for the quarter, compared to analysts’ expectations of $16.19 million. As a group, research analysts forecast that 908 Devices will post -1.99 EPS for the current fiscal year.

Insider Activity

In related news, CFO Joseph H. Iv Griffith sold 23,175 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $6.18, for a total value of $143,221.50. Following the completion of the transaction, the chief financial officer directly owned 139,896 shares of the company’s stock, valued at $864,557.28. This represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.70% of the stock is owned by corporate insiders.

Institutional Trading of 908 Devices

Several large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in shares of 908 Devices in the 3rd quarter worth approximately $28,000. Raymond James Financial Inc. purchased a new position in shares of 908 Devices in the 2nd quarter valued at approximately $48,000. Daiwa Securities Group Inc. bought a new stake in shares of 908 Devices during the second quarter valued at approximately $61,000. PCM Encore LLC bought a new stake in shares of 908 Devices during the fourth quarter valued at approximately $62,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in 908 Devices in the second quarter worth $77,000. 88.06% of the stock is owned by institutional investors.

About 908 Devices

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.