Weiss Ratings Reaffirms Sell (E+) Rating for 908 Devices (NASDAQ:MASS)

908 Devices (NASDAQ:MASS)‘s stock had its “sell (e+)” rating reiterated by stock analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Other analysts have also recently issued reports about the company. Leerink Partners restated a “market perform” rating and issued a $4.00 target price (down from $12.00) on shares of 908 Devices in a report on Wednesday, November 13th. Stephens restated an “overweight” rating and set a $6.00 price objective on shares of 908 Devices in a research report on Wednesday, January 15th. Stifel Nicolaus decreased their target price on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Leerink Partnrs cut 908 Devices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

908 Devices Trading Down 8.4 %

MASS stock opened at $2.29 on Friday. The company has a market cap of $79.74 million, a price-to-earnings ratio of -1.29 and a beta of 0.96. The firm has a 50-day moving average of $2.36 and a two-hundred day moving average of $3.29. 908 Devices has a 12 month low of $1.81 and a 12 month high of $7.91.

Hedge Funds Weigh In On 908 Devices

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its position in shares of 908 Devices by 35.5% during the second quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock worth $3,184,000 after purchasing an additional 161,922 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 purchasing an additional 114,987 shares during the period. AQR Capital Management LLC acquired a new position in 908 Devices during the 2nd quarter worth $585,000. Cubist Systematic Strategies LLC purchased a new stake in 908 Devices during the 2nd quarter worth about $311,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in 908 Devices in the 3rd quarter valued at about $190,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.