Stifel Nicolaus Issues Pessimistic Forecast for 908 Devices (NASDAQ:MASS) Stock Price

908 Devices (NASDAQ:MASS) had its price target dropped by investment analysts at Stifel Nicolaus from $17.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 152.10% from the company’s current price.

Separately, Leerink Partners restated a “market perform” rating and issued a $4.00 price objective (down previously from $12.00) on shares of 908 Devices in a research note on Wednesday.

908 Devices Trading Up 1.7 %

Shares of NASDAQ:MASS opened at $2.38 on Wednesday. The firm has a 50 day simple moving average of $3.44 and a 200-day simple moving average of $4.68. 908 Devices has a twelve month low of $2.19 and a twelve month high of $12.51. The company has a market capitalization of $82.87 million, a PE ratio of -1.34 and a beta of 0.98.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in 908 Devices by 0.4% during the 1st 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 period. AWM Investment Company Inc. grew 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 acquiring an additional 15,058 shares during the period. Millennium Management LLC raised its position in 908 Devices by 35.5% in the second 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 908 Devices by 88.3% in the second quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock valued at $1,263,000 after acquiring an additional 114,987 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 28,015 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.