908 Devices Inc. $MASS Position Cut by GM Advisory Group LLC

GM Advisory Group LLC lowered its holdings in shares of 908 Devices Inc. (NASDAQ:MASS) by 41.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,086 shares of the company’s stock after selling 487,205 shares during the period. GM Advisory Group LLC owned approximately 1.87% of 908 Devices worth $5,940,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MASS. Rhumbline Advisers increased its holdings in shares of 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 purchasing an additional 1,894 shares during the period. Farther Finance Advisors LLC bought a new position in 908 Devices in the 3rd quarter valued at about $28,000. Cresset Asset Management LLC grew its position in 908 Devices by 37.1% in the 3rd quarter. Cresset Asset Management LLC now owns 16,100 shares of the company’s stock valued at $141,000 after buying an additional 4,355 shares in the last quarter. Raymond James Financial Inc. acquired a new position in 908 Devices during the 2nd quarter valued at about $48,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of 908 Devices during the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

908 Devices Price Performance

Shares of MASS opened at $6.22 on Wednesday. The business’s 50-day moving average is $6.35 and its 200-day moving average is $6.64. The company has a market capitalization of $232.50 million, a price-to-earnings ratio of 11.31 and a beta of 0.47. 908 Devices Inc. has a fifty-two week low of $3.55 and a fifty-two week high of $9.34.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. 908 Devices had a net margin of 34.68% and a negative return on equity of 14.99%. Equities research analysts expect that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Insider Activity at 908 Devices

In other news, CFO Joseph H. Iv Griffith sold 23,175 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $6.18, for a total transaction of $143,221.50. Following the transaction, the chief financial officer directly owned 139,896 shares in the company, valued at $864,557.28. The trade was a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 23.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MASS has been the subject of a number of research analyst reports. Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, 908 Devices currently has an average rating of “Hold” and an average price target of $12.00.

908 Devices 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.