908 Devices (NASDAQ:MASS) Stock Price Target Raised at Canaccord Genuity Group

908 Devices (NASDAQ:MASS) had its target price raised by equities research analysts at Canaccord Genuity Group from $13.50 to $14.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target would indicate a potential upside of 39.17% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on MASS. Wall Street Zen cut 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Roth Capital increased their target price on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Stifel Nicolaus increased their target price on 908 Devices from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday, November 4th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, 908 Devices has a consensus rating of “Moderate Buy” and an average target price of $13.67.

908 Devices Price Performance

Shares of NASDAQ MASS opened at $10.06 on Thursday. 908 Devices has a 1 year low of $5.03 and a 1 year high of $13.35. The firm has a 50-day simple moving average of $11.18 and a two-hundred day simple moving average of $8.53. The company has a market cap of $415.82 million, a P/E ratio of -15.48 and a beta of 0.66.

908 Devices (NASDAQ:MASS) last released its earnings results on Tuesday, November 10th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. 908 Devices had a negative return on equity of 11.76% and a negative net margin of 36.87%. The firm had revenue of $18.95 million for the quarter, compared to analysts’ expectations of $18.31 million. As a group, equities research analysts expect that 908 Devices will post -0.59 EPS for the current year.

Insiders Place Their Bets

In other news, Director Christopher D. Brown sold 30,000 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $10.95, for a total transaction of $328,500.00. Following the transaction, the director owned 775,559 shares of the company’s stock, valued at approximately $8,492,371.05. This represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 5,257 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.22, for a total value of $53,726.54. Following the transaction, the senior vice president directly owned 57,784 shares in the company, valued at $590,552.48. The trade was a 8.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 134,115 shares of company stock worth $1,473,296. 28.20% of the stock is currently owned by company insiders.

Institutional Trading of 908 Devices

Hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC increased its position in 908 Devices by 3.5% during 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 purchasing an additional 210,241 shares during the period. AWM Investment Company Inc. purchased a new stake in shares of 908 Devices in the 2nd quarter worth approximately $42,454,000. BlackRock Inc. purchased a new stake in shares of 908 Devices in the 2nd quarter worth approximately $16,915,000. Granahan Investment Management LLC lifted its position in shares of 908 Devices by 662.6% in the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock worth $4,254,000 after purchasing an additional 603,929 shares during the period. Finally, Meros Investment Management LP purchased a new stake in shares of 908 Devices in the 2nd quarter worth approximately $3,143,902. 88.06% of the stock is owned by hedge funds and other institutional investors.

908 Devices Company Profile

908 Devices, Inc. develops analytical instruments that help users identify and measure chemicals and biomolecules. Its products use mass spectrometry and related technologies to bring laboratory-style analysis to settings where rapid results are needed. The company’s portfolio includes handheld devices for detecting and identifying chemical substances, as well as laboratory instruments and tools used in areas such as biopharmaceutical research and protein analysis. Its customers include organizations in public safety, defense, forensics, industrial markets and life sciences.