908 Devices Inc. (NASDAQ:MASS – Get Free Report) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 1,360,000 shares, a drop of 6.2% from the October 15th total of 1,450,000 shares. Based on an average trading volume of 151,400 shares, the short-interest ratio is presently 9.0 days. Currently, 5.9% of the company’s stock are sold short.
Wall Street Analysts Forecast Growth
Separately, Stephens reiterated an “overweight” rating and set a $14.00 price target on shares of 908 Devices in a report on Monday, September 25th.
Institutional Investors Weigh In On 908 Devices
908 Devices Stock Performance
Shares of MASS stock opened at $6.83 on Friday. The firm has a 50 day moving average price of $6.00 and a two-hundred day moving average price of $7.03. 908 Devices has a 12-month low of $4.85 and a 12-month high of $11.26.
908 Devices (NASDAQ:MASS – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.08. The firm had revenue of $14.30 million during the quarter, compared to the consensus estimate of $13.45 million. 908 Devices had a negative net margin of 81.57% and a negative return on equity of 21.67%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the business posted ($0.20) earnings per share. As a group, equities analysts anticipate that 908 Devices will post -1.2 EPS for the current year.
About 908 Devices
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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