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

908 Devices (NASDAQ:MASS)‘s stock had its “sell (e+)” rating reaffirmed by investment analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other research firms also recently commented on MASS. Leerink Partners reiterated a “market perform” rating and issued a $4.00 price objective (down previously 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 target on shares of 908 Devices in a research report on Wednesday. Stifel Nicolaus lowered their price objective on 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Leerink Partnrs cut shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.33.

908 Devices Stock Performance

Shares of MASS stock traded up $0.08 on Friday, hitting $2.98. 1,347,475 shares of the company’s stock traded hands, compared to its average volume of 369,045. The stock has a market capitalization of $103.76 million, a price-to-earnings ratio of -1.68 and a beta of 0.96. The company’s fifty day simple moving average is $2.36 and its 200 day simple moving average is $3.50. 908 Devices has a one year low of $1.81 and a one year high of $8.50.

Hedge Funds Weigh In On 908 Devices

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in 908 Devices in the third quarter worth about $36,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of 908 Devices during the 3rd quarter worth approximately $45,000. Drive Wealth Management LLC purchased a new position in shares of 908 Devices during the 3rd quarter worth approximately $50,000. Townsquare Capital LLC bought a new position in shares of 908 Devices in the 3rd quarter worth approximately $50,000. Finally, 49 Wealth Management LLC lifted its stake in shares of 908 Devices by 16.2% in the 3rd quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock valued at $108,000 after purchasing an additional 4,343 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.