908 Devices (NASDAQ:MASS) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of 908 Devices (NASDAQ:MASSGet Rating) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. The brokerage currently has $19.00 target price on the stock.

According to Zacks, “908 Devices Inc. is a purpose-built handheld and desktop mass spec devices for chemical and biomolecular analysis. It conducts research, designs and manufactures products of mass spectrometry, microfluidic separations, software automation and machine learning. 908 Devices Inc. is headquartered in Boston. “

Separately, SVB Leerink lowered their price objective on 908 Devices from $40.00 to $30.00 and set an outperform rating for the company in a research note on Tuesday, March 8th.

MASS stock opened at $16.51 on Tuesday. The stock has a market capitalization of $515.67 million, a P/E ratio of -18.76 and a beta of 1.59. The company has a current ratio of 17.05, a quick ratio of 16.51 and a debt-to-equity ratio of 0.07. 908 Devices has a 12 month low of $12.60 and a 12 month high of $45.09. The firm has a 50-day moving average price of $18.51 and a 200-day moving average price of $20.95.

908 Devices (NASDAQ:MASSGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.30) EPS for the quarter, hitting analysts’ consensus estimates of ($0.30). The firm had revenue of $8.31 million during the quarter, compared to analysts’ expectations of $7.65 million. 908 Devices had a negative net margin of 56.68% and a negative return on equity of 16.48%. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.22) earnings per share. As a group, equities analysts predict that 908 Devices will post -0.93 EPS for the current fiscal year.

In other 908 Devices news, VP John Kenneweg sold 19,881 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $20.06, for a total transaction of $398,812.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher D. Brown sold 19,900 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $20.06, for a total transaction of $399,194.00. The disclosure for this sale can be found here. Insiders sold 79,829 shares of company stock valued at $1,560,557 in the last ninety days. 51.10% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in 908 Devices by 2.1% during the 2nd quarter. Bank of America Corp DE now owns 21,924 shares of the company’s stock valued at $850,000 after purchasing an additional 455 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of 908 Devices by 1.3% during the 3rd quarter. Janus Henderson Group PLC now owns 52,374 shares of the company’s stock worth $1,703,000 after buying an additional 692 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of 908 Devices by 173.0% during the 3rd quarter. Royal Bank of Canada now owns 1,354 shares of the company’s stock worth $44,000 after buying an additional 858 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of 908 Devices by 285.3% during the 3rd quarter. Citigroup Inc. now owns 1,811 shares of the company’s stock worth $59,000 after buying an additional 1,341 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of 908 Devices by 45.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $95,000 after buying an additional 1,564 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

About 908 Devices (Get Rating)

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry (Mass Spec) devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, industrial biotech, 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 gas, liquid, and solid materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and ZipChip solution, a plug-and-play, high-resolution separation platform that optimizes Mass Spec sample analysis.

Featured Stories

Get a free copy of the Zacks research report on 908 Devices (MASS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for 908 Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 908 Devices and related companies with MarketBeat.com's FREE daily email newsletter.