908 Devices (NASDAQ:MASS) Hits New 1-Year High – Time to Buy?

908 Devices Inc. (NASDAQ:MASS) reached a new 52-week high on Wednesday. The company traded as high as $12.12 and last traded at $12.2840, with a volume of 80258 shares changing hands. The stock had previously closed at $11.85.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MASS shares. Wall Street Zen cut 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Canaccord Genuity Group initiated coverage on 908 Devices in a research note on Thursday, September 10th. They issued a “buy” rating and a $13.50 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Roth Capital upped their target price on shares of 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, Stifel Nicolaus increased their target price on shares of 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, 908 Devices has an average rating of “Moderate Buy” and a consensus price target of $12.83.

908 Devices Stock Performance

The stock has a 50-day moving average of $9.73 and a 200 day moving average of $8.29. The firm has a market capitalization of $511.38 million, a P/E ratio of -13.06 and a beta of 0.68.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $16.07 million during the quarter, compared to the consensus estimate of $15.37 million. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%. On average, equities analysts predict that 908 Devices Inc. will post -0.8 EPS for the current year.

Insider Activity at 908 Devices

In related news, CFO Joseph Griffith, IV sold 11,459 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total transaction of $125,476.05. Following the transaction, the chief financial officer owned 121,497 shares in the company, valued at $1,330,392.15. This represents a 8.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 21,399 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $10.11, for a total transaction of $216,343.89. Following the transaction, the senior vice president owned 57,784 shares in the company, valued at $584,196.24. The trade was a 27.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,115 shares of company stock valued at $1,074,996 over the last ninety days. 28.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MASS. First Light Asset Management LLC increased its stake in shares of 908 Devices by 3.5% in the 2nd quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock valued at $54,660,000 after buying an additional 210,241 shares during the period. AWM Investment Company Inc. bought a new stake in 908 Devices during the 2nd quarter worth about $42,454,000. BlackRock Inc. bought a new stake in 908 Devices during the 2nd quarter worth about $16,915,000. Granahan Investment Management LLC lifted its position in 908 Devices by 662.6% during the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after purchasing an additional 603,929 shares during the period. Finally, Needham Investment Management LLC lifted its position in 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after purchasing an additional 548,000 shares during the period. 88.06% of the stock is currently owned by institutional investors.

About 908 Devices

908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company’s technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.

Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.