908 Devices Inc. (NASDAQ:MASS) Sees Significant Increase in Short Interest

908 Devices Inc. (NASDAQ:MASSGet Free Report) saw a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 3,828,392 shares, an increase of 20.0% from the January 29th total of 3,189,641 shares. Approximately 13.9% of the shares of the company are sold short. Based on an average daily trading volume, of 333,907 shares, the days-to-cover ratio is presently 11.5 days. Based on an average daily trading volume, of 333,907 shares, the days-to-cover ratio is presently 11.5 days. Approximately 13.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

View Our Latest Research Report on 908 Devices

908 Devices Trading Down 4.4%

908 Devices stock opened at $6.32 on Wednesday. 908 Devices has a 12-month low of $2.67 and a 12-month high of $9.34. The firm has a market capitalization of $228.72 million, a price-to-earnings ratio of -57.45 and a beta of 0.47. The firm has a 50 day moving average of $6.15 and a 200 day moving average of $6.64.

Insider Activity

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 23,175 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $6.18, for a total transaction of $143,221.50. Following the completion of the sale, the chief financial officer directly owned 139,896 shares of the company’s stock, valued at approximately $864,557.28. This represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in 908 Devices in the 1st quarter worth $365,000. Nisa Investment Advisors LLC grew its position in shares of 908 Devices by 453.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock worth $27,000 after purchasing an additional 3,100 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in 908 Devices during the 2nd quarter valued at approximately $1,906,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in 908 Devices during the 2nd quarter valued at approximately $1,515,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in 908 Devices in the 2nd quarter worth approximately $775,000. Institutional investors own 88.06% of the company’s stock.

Trending Headlines about 908 Devices

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About 908 Devices

(Get Free Report)

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.

Further Reading

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