908 Devices (NASDAQ:MASS) SVP Sells 5,257 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 5,257 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $10.22, for a total transaction of $53,726.54. Following the transaction, the senior vice president owned 57,784 shares of the company’s stock, valued at $590,552.48. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Kenneweg also recently made the following trade(s):

• On Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The stock was sold at an average price of $10.00, for a total transaction of $10,000.00.
• On Wednesday, September 16th, John Kenneweg sold 21,399 shares of 908 Devices stock. The shares were sold at an average price of $10.11, for a total value of $216,343.89.

908 Devices Trading Up 10.7%

Shares of NASDAQ:MASS traded up $1.06 on Thursday, hitting $10.98. The company had a trading volume of 689,788 shares, compared to its average volume of 328,921. The company has a market cap of $453.80 million, a PE ratio of -11.56 and a beta of 0.68. 908 Devices Inc. has a 52-week low of $5.03 and a 52-week high of $11.25. The business has a 50 day moving average of $9.11 and a 200 day moving average of $7.99.

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

Analyst Upgrades and Downgrades

MASS has been the topic of several research analyst reports. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Stifel Nicolaus boosted their price objective on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Roth Capital increased their target price on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Finally, Canaccord Genuity Group assumed coverage on 908 Devices in a research note on Thursday, September 10th. They set a “buy” rating and a $13.50 price target for the company. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MASS. First Light Asset Management LLC grew its stake in shares of 908 Devices by 3.5% in the second quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock valued at $54,660,000 after buying an additional 210,241 shares in the last quarter. AWM Investment Company Inc. purchased a new position in 908 Devices in the 2nd quarter worth approximately $42,454,000. BlackRock Inc. acquired a new stake in 908 Devices in the second quarter valued at approximately $16,915,000. Granahan Investment Management LLC raised its stake 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 valued at $4,254,000 after purchasing an additional 603,929 shares during the period. Finally, Needham Investment Management LLC lifted its position 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 in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

908 Devices Company Profile

908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company’s technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.

Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.