908 Devices (NASDAQ:MASS) up 3.2%

908 Devices Inc. (NASDAQ:MASS – Get Free Report) stock rose 3.2% during trading on Thursday. The stock hit $4.91, after last trading at $4.88. About 97,159 shares were traded during midday trading, down 54% from its average daily volume of 213,492 shares. The stock had previously closed at $4.73.

Changes in analyst ratings

In a separate research report on Monday, May 13, Stephens reiterated an “overweight” rating and set a $14.00 price target on shares of 908 Devices.

See our latest stock analysis on MASS

908 Devices Price Performance

The company has a market capitalization of $168.31 million, a P/E ratio of -4.56 and a beta of 1.01. The company’s 50-day moving average is $5.91 and its 200-day moving average is $6.90.

908 Devices (NASDAQ:MASS – Get Free Report) last released its earnings results on Tuesday, April 30. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03. 908 Devices had a negative return on equity of 20.87% and a negative net margin of 68.57%. The company had revenue of $9.99 million for the quarter, compared to the consensus estimate of $9.29 million. During the same period in the prior year, the company earned ($0.39) earnings per share. The company’s revenue for the quarter grew 5.3% year-over-year. Research analysts predict that 908 Devices Inc. will post -1.12 EPS for the current year.

Insiders are betting

In related news, CEO Kevin J. Knopp acquired 10,000 shares of 908 Devices stock in a transaction on Thursday, May 9. The shares were purchased at an average price of $5.83 per share, for a total value of $58,300.00. Following the completion of the purchase, the CEO now directly owns 488,981 shares of the company’s stock, valued at approximately $2,850,759.23. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink . Insiders have purchased 30,000 shares of the company’s stock worth $178,500 over the last ninety days. Insiders own 27.80% of the stock.

Institutional inflows and outflows

Several hedge funds recently modified their holdings in the company. ARK Investment Management LLC increased its holdings in 908 Devices by 8.3% in the fourth quarter. ARK Investment Management LLC now owns 4,346,579 shares of the company’s stock worth $48,769,000 after purchasing an additional 333,119 shares in the last quarter. Granahan Investment Management LLC increased its holdings in 908 Devices by 10.6% in the fourth quarter. Granahan Investment Management LLC now owns 2,038,658 shares of the company’s stock worth $22,874,000 after purchasing an additional 195,368 shares in the last quarter. Vanguard Group Inc. increased its holdings in 908 Devices by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after purchasing an additional 6,772 shares during the last quarter. Iron Triangle Partners LP increased its holdings in 908 Devices by 31.1% in the fourth quarter. Iron Triangle Partners LP now owns 1,284,947 shares of the company’s stock worth $14,417,000 after purchasing an additional 304,484 shares during the last quarter. Finally, AWM Investment Company Inc. increased its holdings in 908 Devices by 2.3% during the first quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock worth $5,047,000 after purchasing an additional 15,058 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

About 908 devices

(Download the free report)

908 Devices Inc., a commercial-stage technology company, provides a variety of purpose-built portable and benchtop mass spectrometry instruments for the study of unknown and unseen materials in life science research, bioprocessing, pharmaceutical/biopharmaceutical, forensics, and related markets. The company’s products include the MX908, a portable, battery-powered mass spectrometry instrument that is designed for the rapid analysis of solid, liquid, gaseous, and aerosol materials of unknown identity; the Rebel, a small benchtop analyzer that provides real-time information about the extracellular environment in bioprocesses; and the Maverick, an optical line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, and provides process fingerprinting data to support large-scale efforts in predictive bioprocess modeling.

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