Stifel Nicolaus Issues Pessimistic Forecast for 908 Devices (NASDAQ:MASS) Stock Price

908 Devices (NASDAQ:MASS) had its price objective reduced by Stifel Nicolaus from $17.00 to $6.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

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

908 Devices Trading Up 0.4 %

908 Devices stock opened at $2.39 on Wednesday. 908 Devices has a 52 week low of $2.19 and a 52 week high of $12.51. The stock has a market cap of $83.23 million, a price-to-earnings ratio of -1.35 and a beta of 0.98. The company’s 50-day moving average price is $3.42 and its two-hundred day moving average price is $4.66.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in shares of 908 Devices by 35.5% in the 2nd quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock worth $3,184,000 after purchasing an additional 161,922 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 908 Devices by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock valued at $13,221,000 after buying an additional 6,772 shares in the last quarter. American Century Companies Inc. lifted its position in shares of 908 Devices by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after acquiring an additional 5,295 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of 908 Devices during the second quarter worth $250,000. Finally, GAMMA Investing LLC acquired a new position in shares of 908 Devices in the 2nd quarter valued at $48,000. 88.06% of the stock is 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.