908 Devices (NASDAQ:MASS) Stock: Insider Joseph Iv Griffith Sells 5,000 Shares

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $13.03, for a total value of $65,150.00. Following the transaction, the chief financial officer owned 116,497 shares of the company’s stock, valued at approximately $1,517,955.91. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

NASDAQ:MASS opened at $12.05 on Friday. The business has a fifty day moving average of $10.52 and a 200-day moving average of $8.62. The stock has a market cap of $498.03 million, a price-to-earnings ratio of -12.68 and a beta of 0.63. 908 Devices Inc. has a 1 year low of $5.03 and a 1 year high of $13.35.

908 Devices (NASDAQ:MASS) last released its 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 net margin of 56.96% and a negative return on equity of 12.54%. The firm had revenue of $16.07 million for the quarter, compared to analysts’ expectations of $15.37 million. On average, equities research analysts predict that 908 Devices Inc. will post -0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On 908 Devices

A number of institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC lifted its stake in 908 Devices by 3.5% during 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 during the 2nd quarter worth approximately $42,454,000. BlackRock Inc. purchased a new position in 908 Devices during the 2nd quarter worth approximately $16,915,000. Granahan Investment Management LLC raised its stake in 908 Devices by 662.6% during the 1st 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 raised its stake in 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after purchasing an additional 548,000 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

908 Devices Company Profile

908 Devices Inc is a Boston-based technology company that develops and manufactures handheld and portable chemical detection and analysis instruments. Its products are designed to help users identify and characterize chemical substances in the field, at industrial sites and in laboratory settings without requiring samples to be transported to a centralized facility.

The company’s product portfolio includes the MX908 and related devices for detecting and identifying trace chemicals, explosives, narcotics and other substances; the Xplora platform for field and process analysis; and ZipChip technologies used for rapid, high-resolution separations in life sciences and biopharmaceutical research.