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

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.00, for a total value of $270,000.00. Following the transaction, the director directly owned 895,559 shares of the company’s stock, valued at approximately $8,060,031. The trade was a 3.24% 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

Shares of NASDAQ MASS opened at $8.41 on Friday. The stock has a fifty day moving average price of $7.03 and a two-hundred day moving average price of $6.44. The firm has a market cap of $317.98 million, a P/E ratio of -8.41 and a beta of 0.57. 908 Devices Inc. has a 1 year low of $5.03 and a 1 year high of $9.34.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $17.38 million during the quarter, compared to analyst estimates of $16.19 million. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%. On average, research analysts predict that 908 Devices Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MASS has been the subject of several research reports. Wall Street Zen lowered 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.00.

Institutional Trading of 908 Devices

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of 908 Devices in the second quarter worth $48,000. Intelligence Driven Advisers LLC acquired a new stake in shares of 908 Devices in the first quarter worth $61,000. Daiwa Securities Group Inc. acquired a new stake in shares of 908 Devices in the second quarter worth $61,000. PCM Encore LLC acquired a new stake in shares of 908 Devices in the fourth quarter worth $62,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of 908 Devices in the second quarter worth $77,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

908 Devices Company Profile

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.