908 Devices Inc. (NASDAQ:MASS – Get Free Report) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,340,000 shares, an increase of 10.7% from the September 15th total of 1,210,000 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average daily volume of 175,800 shares, the days-to-cover ratio is presently 7.6 days.
Institutional Trading of 908 Devices
A number of large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in 908 Devices during the third quarter valued at $62,000. Nuveen Asset Management LLC boosted its holdings in shares of 908 Devices by 62.1% in the second quarter. Nuveen Asset Management LLC now owns 94,214 shares of the company’s stock valued at $646,000 after purchasing an additional 36,108 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of 908 Devices by 10.1% in the second quarter. Alliancebernstein L.P. now owns 24,340 shares of the company’s stock valued at $167,000 after purchasing an additional 2,240 shares during the period. Wells Fargo & Company MN increased its holdings in 908 Devices by 95.4% during the 2nd quarter. Wells Fargo & Company MN now owns 9,821 shares of the company’s stock worth $67,000 after purchasing an additional 4,795 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 908 Devices by 1,732.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 344,875 shares of the company’s stock worth $2,366,000 after buying an additional 326,051 shares during the period. Institutional investors own 65.74% of the company’s stock.
908 Devices Trading Up 5.5 %
Shares of MASS stock opened at $5.94 on Tuesday. The company has a 50 day simple moving average of $6.63 and a two-hundred day simple moving average of $7.39. The stock has a market cap of $192.06 million, a P/E ratio of -4.99 and a beta of 0.42. 908 Devices has a 12 month low of $5.50 and a 12 month high of $17.88.
Wall Street Analysts Forecast Growth
Separately, Stephens restated an “overweight” rating and set a $14.00 price target on shares of 908 Devices in a report on Monday, September 25th.
Read Our Latest Research Report on 908 Devices
908 Devices Company Profile
908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry (Mass Spec) devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, industrial biotech, 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 gas, liquid, and solid materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; Maven and Trace C2, an online device for bioprocess monitoring and control; and ZipChip solution, a plug-and-play, high-resolution separation platform that optimizes Mass Spec sample analysis.
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