908 Devices Inc. (NASDAQ:MASS) Sees Large Increase in Short Interest

908 Devices Inc. (NASDAQ:MASS) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,850,000 shares, a growth of 26.7% from the February 28th total of 2,250,000 shares. Approximately 11.1% of the shares of the company are sold short. Based on an average daily volume of 2,990,000 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $6.00 price target on shares of 908 Devices in a research report on Wednesday, January 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 908 Devices in a research report on Saturday, March 22nd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Institutional Investors Weigh In On 908 Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its position in shares of 908 Devices by 32.2% in the fourth quarter. Hsbc Holdings PLC now owns 21,007 shares of the company’s stock worth $46,000 after purchasing an additional 5,112 shares during the period. State Street Corp boosted its holdings in 908 Devices by 1.2% in the 3rd quarter. State Street Corp now owns 479,044 shares of the company’s stock worth $1,662,000 after buying an additional 5,704 shares during the period. Geode Capital Management LLC increased its stake in 908 Devices by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock worth $1,970,000 after buying an additional 6,634 shares in the last quarter. LPL Financial LLC raised its holdings in 908 Devices by 13.0% during the fourth quarter. LPL Financial LLC now owns 63,287 shares of the company’s stock valued at $139,000 after acquiring an additional 7,295 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new stake in 908 Devices during the third quarter valued at about $45,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

908 Devices Stock Down 4.2 %

NASDAQ MASS opened at $3.90 on Thursday. 908 Devices has a 52 week low of $1.81 and a 52 week high of $7.48. The company has a market capitalization of $137.79 million, a P/E ratio of -2.20 and a beta of 0.99. The stock’s 50-day moving average price is $3.13 and its 200-day moving average price is $2.96.

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.