Insider Selling: 908 Devices (NASDAQ:MASS) CFO Sells 4,292 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 4,292 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $9.05, for a total transaction of $38,842.60. Following the sale, the chief financial officer directly owned 92,930 shares of the company’s stock, valued at $841,016.50. This trade represents a 4.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

908 Devices Trading Down 3.4%

MASS stock opened at $8.76 on Tuesday. The stock’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $6.07. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $9.19. The stock has a market capitalization of $314.13 million, a PE ratio of -16.22 and a beta of 0.46.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $4.70 million during the quarter, compared to the consensus estimate of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. 908 Devices has set its FY 2025 guidance at EPS. On average, research analysts predict that 908 Devices Inc. will post -1.99 earnings per share for the current year.

Hedge Funds Weigh In On 908 Devices

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its holdings in 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after buying an additional 1,894 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 908 Devices by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company’s stock worth $233,000 after acquiring an additional 1,985 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in shares of 908 Devices by 49.7% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company’s stock valued at $47,000 after acquiring an additional 2,176 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of 908 Devices by 453.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock worth $27,000 after purchasing an additional 3,100 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of 908 Devices by 10.8% in the 1st quarter. American Century Companies Inc. now owns 45,814 shares of the company’s stock worth $205,000 after purchasing an additional 4,471 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Leerink Partnrs upgraded shares of 908 Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th. Leerink Partners raised shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of 908 Devices from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.