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

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

A number of other equities analysts also recently commented on MASS. Leerink Partnrs downgraded shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Leerink Partners reissued a “market perform” rating and set a $4.00 target price (down previously from $12.00) on shares of 908 Devices in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus cut their price target 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.

908 Devices Stock Up 32.8 %

NASDAQ:MASS traded up $0.65 during mid-day trading on Wednesday, reaching $2.63. The company’s stock had a trading volume of 1,625,581 shares, compared to its average volume of 484,431. The firm has a market capitalization of $91.58 million, a PE ratio of -1.49 and a beta of 0.96. The stock has a fifty day moving average of $2.41 and a 200-day moving average of $3.53. 908 Devices has a 1 year low of $1.81 and a 1 year high of $8.50.

Institutional Trading of 908 Devices

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in 908 Devices during the 3rd quarter valued at approximately $36,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of 908 Devices in the 3rd quarter valued at $45,000. Drive Wealth Management LLC purchased a new position in 908 Devices in the 3rd quarter worth $50,000. Townsquare Capital LLC acquired a new stake in 908 Devices during the 3rd quarter worth about $50,000. Finally, 49 Wealth Management LLC grew its stake 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 purchasing an additional 4,343 shares during the last quarter. 88.06% of the stock is currently 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.