908 Devices (NASDAQ:MASS) Earns Sell (E+) Rating from Weiss Ratings

Weiss Ratings restated their sell (e+) rating on shares of 908 Devices (NASDAQ:MASS) in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other research analysts have also issued reports on MASS. Stifel Nicolaus decreased their target price on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Leerink Partnrs downgraded 908 Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price objective (down from $12.00) on shares of 908 Devices in a report on Wednesday, November 13th. Finally, Stephens reissued an “overweight” rating and set a $6.00 target price on shares of 908 Devices in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, 908 Devices presently has an average rating of “Moderate Buy” and an average price target of $5.33.

908 Devices Stock Performance

Shares of MASS opened at $2.98 on Friday. The firm has a market cap of $103.76 million, a P/E ratio of -1.68 and a beta of 0.96. 908 Devices has a 52 week low of $1.81 and a 52 week high of $8.50. The firm’s 50-day simple moving average is $2.35 and its 200 day simple moving average is $3.48.

Institutional Investors Weigh In On 908 Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in MASS. Millennium Management LLC grew its position in 908 Devices by 35.5% during the 2nd quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock worth $3,184,000 after acquiring an additional 161,922 shares during the last quarter. Geode Capital Management LLC raised its holdings in 908 Devices by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock valued at $1,970,000 after buying an additional 6,634 shares during the last quarter. State Street Corp boosted its position in 908 Devices by 1.2% during the 3rd quarter. State Street Corp now owns 479,044 shares of the company’s stock worth $1,662,000 after buying an additional 5,704 shares during the period. Dimensional Fund Advisors LP grew its holdings in 908 Devices by 88.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock worth $1,263,000 after acquiring an additional 114,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in 908 Devices by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 220,477 shares of the company’s stock worth $765,000 after acquiring an additional 28,015 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

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.