Stephens Reaffirms “Overweight” Rating for 908 Devices (NASDAQ:MASS)

908 Devices (NASDAQ:MASS)‘s stock had its “overweight” rating reissued by investment analysts at Stephens in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $6.00 target price on the stock. Stephens’ price objective suggests a potential upside of 128.14% from the company’s previous close.

MASS has been the topic of several other research reports. Stifel Nicolaus decreased their price target on 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Leerink Partnrs downgraded shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price target (down from $12.00) on shares of 908 Devices in a research note on Wednesday, November 13th.

908 Devices Price Performance

Shares of NASDAQ MASS traded up $0.65 during mid-day trading on Wednesday, hitting $2.63. 1,625,581 shares of the company’s stock traded hands, compared to its average volume of 484,431. 908 Devices has a 1 year low of $1.81 and a 1 year high of $8.50. The company’s 50-day moving average is $2.41 and its two-hundred day moving average is $3.53. The company has a market capitalization of $91.58 million, a P/E ratio of -1.49 and a beta of 0.96.

Hedge Funds Weigh In On 908 Devices

A number of large investors have recently bought and sold shares of MASS. Bank of New York Mellon Corp lifted its position in shares of 908 Devices by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock worth $358,000 after purchasing an additional 4,212 shares during the last quarter. 49 Wealth Management LLC lifted its holdings in 908 Devices by 16.2% during the 3rd quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock valued at $108,000 after buying an additional 4,343 shares in the last quarter. American Century Companies Inc. boosted its position in 908 Devices by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after buying an additional 5,295 shares during the period. State Street Corp grew its stake 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 acquiring an additional 5,704 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 acquiring an additional 6,634 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.