Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells $77,144.34 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 8,358 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $9.23, for a total transaction of $77,144.34. Following the transaction, the director owned 805,559 shares in the company, valued at approximately $7,435,309.57. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Down 1.0%

Shares of MASS opened at $10.01 on Friday. The stock’s 50 day moving average is $8.32 and its two-hundred day moving average is $7.40. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $10.52. The firm has a market capitalization of $413.71 million, a PE ratio of -10.54 and a beta of 0.66.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%.The business had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $15.37 million. On average, sell-side analysts predict that 908 Devices Inc. will post -0.8 EPS for the current year.

Hedge Funds Weigh In On 908 Devices

Several institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers grew its stake in 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock worth $260,000 after acquiring an additional 1,894 shares during the period. Graham Capital Management L.P. boosted its holdings in shares of 908 Devices by 12.9% during the fourth quarter. Graham Capital Management L.P. now owns 20,787 shares of the company’s stock worth $109,000 after purchasing an additional 2,374 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of 908 Devices in the second quarter valued at $27,000. Allworth Financial LP acquired a new position in 908 Devices in the second quarter valued at $29,000. Finally, Cresset Asset Management LLC lifted its position in 908 Devices by 37.1% during the third quarter. Cresset Asset Management LLC now owns 16,100 shares of the company’s stock worth $141,000 after buying an additional 4,355 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MASS. Stifel Nicolaus boosted their price target on 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. Roth Capital boosted their price objective on shares of 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen downgraded shares of 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, 908 Devices has a consensus rating of “Hold” and a consensus price target of $12.50.

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.