908 Devices (NASDAQ:MASS) SVP John Kenneweg Sells 21,399 Shares

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 21,399 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $10.11, for a total transaction of $216,343.89. Following the completion of the sale, the senior vice president directly owned 57,784 shares in the company, valued at approximately $584,196.24. This represents a 27.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Thursday, September 17th, John Kenneweg sold 5,257 shares of 908 Devices stock. The shares were sold at an average price of $10.22, for a total transaction of $53,726.54.
• On Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The shares were sold at an average price of $10.00, for a total transaction of $10,000.00.

908 Devices Price Performance

908 Devices stock opened at $10.98 on Friday. The company has a market cap of $453.85 million, a price-to-earnings ratio of -11.56 and a beta of 0.68. The firm has a 50-day moving average of $9.16 and a 200-day moving average of $8.02. 908 Devices Inc. has a one year low of $5.03 and a one year high of $11.25.

908 Devices (NASDAQ:MASS) last released its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $15.37 million. As a group, sell-side analysts expect that 908 Devices Inc. will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new stake in shares of 908 Devices in the second quarter valued at approximately $27,000. Allworth Financial LP acquired a new stake in shares of 908 Devices in the 2nd quarter valued at approximately $29,000. Intelligence Driven Advisers LLC acquired a new stake in 908 Devices in the first quarter valued at approximately $61,000. AXQ Capital LP acquired a new stake in shares of 908 Devices during the 2nd quarter valued at $93,000. Finally, PCM Encore LLC bought a new stake in shares of 908 Devices during the second quarter worth about $103,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MASS shares. Roth Capital boosted their target price on shares of 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Canaccord Genuity Group began coverage on shares of 908 Devices in a research report on Thursday, September 10th. They issued a “buy” rating and a $13.50 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Finally, Stifel Nicolaus upped their target price on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, 908 Devices presently has an average rating of “Moderate Buy” and an average price target of $12.83.

About 908 Devices

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.