908 Devices (NASDAQ:MASS) Given New $6.00 Price Target at Stifel Nicolaus

908 Devices (NASDAQ:MASS) had its target price decreased by stock analysts at Stifel Nicolaus from $17.00 to $6.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 129.01% from the company’s current price.

Separately, Leerink Partners reissued a “market perform” rating and set a $4.00 price target (down previously from $12.00) on shares of 908 Devices in a research report on Wednesday.

908 Devices Trading Down 10.3 %

Shares of NASDAQ MASS traded down $0.30 during trading hours on Wednesday, reaching $2.62. The stock had a trading volume of 197,419 shares, compared to its average volume of 197,222. 908 Devices has a 52-week low of $2.60 and a 52-week high of $12.51. The firm has a market cap of $90.81 million, a price-to-earnings ratio of -2.28 and a beta of 0.98. The business’s fifty day moving average price is $3.50 and its two-hundred day moving average price is $4.72.

Institutional Investors Weigh In On 908 Devices

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in 908 Devices during the 3rd quarter valued at about $36,000. GAMMA Investing LLC purchased a new position in 908 Devices during the 2nd quarter worth approximately $48,000. Drive Wealth Management LLC acquired a new stake in 908 Devices during the 3rd quarter valued at approximately $50,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of 908 Devices in the 1st quarter valued at $80,000. Finally, 49 Wealth Management LLC raised its holdings in shares of 908 Devices by 16.2% during the third quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock worth $108,000 after purchasing an additional 4,343 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

908 Devices Company Profile

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.