908 Devices (NASDAQ:MASS) Director Christopher Brown Sells 30,000 Shares of Company Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $10.95, for a total value of $328,500.00. Following the transaction, the director owned 775,559 shares in the company, valued at approximately $8,492,371.05. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

Shares of NASDAQ MASS opened at $10.56 on Friday. The stock has a market capitalization of $436.44 million, a PE ratio of -11.12 and a beta of 0.66. The business has a fifty day moving average price of $11.19 and a two-hundred day moving average price of $8.48. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week 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, topping analysts’ consensus estimates 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 return on equity of 12.54% and a negative net margin of 56.96%. On average, equities analysts expect that 908 Devices Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

MASS has been the topic of a number of recent research reports. Stifel Nicolaus upped their price target on 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Canaccord Genuity Group initiated coverage on shares of 908 Devices in a research note on Thursday, September 10th. They set a “buy” rating and a $13.50 price target on the stock. Finally, Roth Capital boosted their target price on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of 908 Devices during the 2nd quarter valued at about $27,000. Allworth Financial LP bought a new stake in 908 Devices in the 2nd quarter worth approximately $29,000. Intelligence Driven Advisers LLC bought a new position in 908 Devices in the first quarter worth approximately $61,000. AXQ Capital LP bought a new position in 908 Devices in the 2nd quarter worth $93,000. Finally, PCM Encore LLC bought a new stake in shares of 908 Devices in the second quarter worth about $103,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

About 908 Devices

908 Devices Inc is a Boston-based analytical technology company that develops purpose-built mass spectrometers for use outside traditional laboratory environments. Its instruments are designed to provide rapid chemical and biological analysis in the field, helping users identify unknown substances and make time-sensitive decisions.

The company’s product portfolio includes the MX908 handheld mass spectrometer, which is used to detect and identify chemical threats, explosives, narcotics and other hazardous materials.