Short Interest in 908 Devices Inc. (NASDAQ:MASS) Grows By 26.7%

908 Devices Inc. (NASDAQ:MASS - Get Free Report) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 2,850,000 shares, a growth of 26.7% from the February 28th total of 2,250,000 shares. Based on an average daily volume of 2,990,000 shares, the days-to-cover ratio is presently 1.0 days. Currently, 11.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MASS. Weiss Ratings restated a "sell (e+)" rating on shares of 908 Devices in a research note on Saturday, March 22nd. Stephens restated an "overweight" rating and issued a $6.00 price objective on shares of 908 Devices in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.33.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MASS. Charles Schwab Investment Management Inc. increased its position in shares of 908 Devices by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 220,477 shares of the company's stock worth $765,000 after purchasing an additional 28,015 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 908 Devices by 1.2% during the third quarter. Geode Capital Management LLC now owns 567,788 shares of the company's stock worth $1,970,000 after buying an additional 6,634 shares in the last quarter. State Street Corp raised its stake in shares of 908 Devices by 1.2% in the third quarter. State Street Corp now owns 479,044 shares of the company's stock valued at $1,662,000 after acquiring an additional 5,704 shares during the last quarter. Barclays PLC boosted its holdings in shares of 908 Devices by 452.7% in the 3rd quarter. Barclays PLC now owns 46,214 shares of the company's stock worth $160,000 after acquiring an additional 37,853 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in 908 Devices during the 4th quarter worth approximately $52,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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908 Devices Price Performance

Shares of 908 Devices stock traded up $0.07 during midday trading on Friday, hitting $3.81. 666,159 shares of the company were exchanged, compared to its average volume of 961,311. The firm has a 50 day simple moving average of $3.18 and a 200-day simple moving average of $2.96. The firm has a market cap of $134.61 million, a P/E ratio of -2.15 and a beta of 0.30. 908 Devices has a 52 week low of $1.81 and a 52 week high of $7.48.

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.