Christopher Brown Sells 20,000 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $8.73, for a total transaction of $174,600.00. Following the completion of the sale, the director directly owned 875,559 shares in the company, valued at $7,643,630.07. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

MASS opened at $7.93 on Friday. The stock has a market capitalization of $299.83 million, a PE ratio of -7.93 and a beta of 0.63. The firm’s fifty day moving average price is $7.27 and its 200 day moving average price is $6.54. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $17.38 million for the quarter, compared to analysts’ expectations of $16.19 million. 908 Devices had a negative net margin of 62.40% and a negative return on equity of 14.03%. On average, equities research analysts forecast that 908 Devices Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of 908 Devices

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Light Asset Management LLC raised its holdings in shares of 908 Devices by 25.6% during the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock worth $37,164,000 after purchasing an additional 1,236,377 shares during the period. ARK Investment Management LLC raised its holdings in shares of 908 Devices by 1.6% during the fourth quarter. ARK Investment Management LLC now owns 1,985,986 shares of the company’s stock worth $10,426,000 after purchasing an additional 32,214 shares during the period. Needham Investment Management LLC raised its holdings in shares of 908 Devices by 246.8% during the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after purchasing an additional 548,000 shares during the period. Granahan Investment Management LLC raised its holdings in shares of 908 Devices by 662.6% during the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock worth $4,254,000 after purchasing an additional 603,929 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of 908 Devices by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 688,566 shares of the company’s stock worth $3,616,000 after acquiring an additional 16,477 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MASS has been the topic of several recent analyst reports. Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings cut shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.

About 908 Devices

908 Devices Inc (NASDAQ: MASS) is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company’s core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.

Key products in 908 Devices’ portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.