908 Devices, with the stock ticker MASS, has secured a significant $2 million order from the Texas Department of Public Safety. This order is for the company's MX908 handheld mass spectrometry device, designed to enhance drug detection capabilities. This latest investment follows an earlier order placed last year for several MX908 units, indicating continued reliance on the advanced technology provided by 908 Devices.
The funding for this purchase is sourced from the Community Oriented Policing Services grant, a federal initiative managed at the state level. This grant aims to support law enforcement agencies in improving public safety and policing by providing necessary tools and resources. The acquisition of additional MX908 devices underlines the Texas Department of Public Safety's commitment to utilizing cutting-edge technology in its operations.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for 908 Devices Inc (MASS, Financial) is $5.50 with a high estimate of $6.00 and a low estimate of $5.00. The average target implies an upside of 14.58% from the current price of $4.80. More detailed estimate data can be found on the 908 Devices Inc (MASS) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, 908 Devices Inc's (MASS, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for 908 Devices Inc (MASS, Financial) in one year is $8.01, suggesting a upside of 66.88% from the current price of $4.8. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the 908 Devices Inc (MASS) Summary page.
