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

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $10.58, for a total value of $317,400.00. Following the transaction, the director directly owned 775,559 shares of the company’s stock, valued at approximately $8,205,414.22. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

MASS opened at $10.05 on Friday. 908 Devices Inc. has a one year low of $5.03 and a one year high of $11.25. The stock’s fifty day moving average is $8.91 and its 200-day moving average is $7.82. The company has a market capitalization of $415.37 million, a PE ratio of -10.58 and a beta of 0.68.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. The business had revenue of $16.07 million during the quarter, compared to analyst estimates 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 research analysts forecast that 908 Devices Inc. will post -0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MASS has been the subject of several research reports. Stifel Nicolaus raised their price objective on 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Roth Capital increased their target price on 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, 908 Devices currently has an average rating of “Hold” and an average target price of $12.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Light Asset Management LLC boosted its stake in shares of 908 Devices by 25.6% during the 1st quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock valued at $37,164,000 after buying an additional 1,236,377 shares during the period. AWM Investment Company Inc. acquired a new position in shares of 908 Devices in the second quarter worth $42,454,000. ARK Investment Management LLC increased its stake in shares of 908 Devices by 1.6% in the fourth quarter. ARK Investment Management LLC now owns 1,985,986 shares of the company’s stock worth $10,426,000 after acquiring an additional 32,214 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of 908 Devices during the second quarter worth $16,915,000. Finally, Needham Investment Management LLC boosted its position in 908 Devices by 246.8% during the fourth 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 last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.