908 Devices (NASDAQ:MASS) Director Christopher Brown Sells 20,000 Shares

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of 908 Devices stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $8.73, for a total transaction of $174,600.00. Following the completion of the sale, the director directly owned 875,559 shares in the company, valued at $7,643,630.07. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Up 1.8%

Shares of NASDAQ:MASS traded up $0.16 during mid-day trading on Thursday, reaching $8.82. The company had a trading volume of 357,373 shares, compared to its average volume of 298,909. The firm has a market cap of $333.48 million, a price-to-earnings ratio of -8.82 and a beta of 0.63. The company’s 50-day moving average price is $7.19 and its 200-day moving average price is $6.50. 908 Devices Inc. has a one year low of $5.03 and a one year high of $9.34.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of 908 Devices

A number of institutional investors have recently modified their holdings of the company. First Light Asset Management LLC boosted its holdings in shares of 908 Devices by 25.6% during the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock worth $37,164,000 after purchasing an additional 1,236,377 shares during the period. Intelligence Driven Advisers LLC purchased a new stake in shares of 908 Devices during the first quarter worth about $61,000. Granahan Investment Management LLC boosted its holdings in shares of 908 Devices by 662.6% during the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock worth $4,254,000 after purchasing an additional 603,929 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of 908 Devices by 3.6% during the first quarter. Renaissance Technologies LLC now owns 230,200 shares of the company’s stock worth $1,409,000 after purchasing an additional 8,100 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of 908 Devices by 101.2% during the first quarter. Sei Investments Co. now owns 164,894 shares of the company’s stock worth $1,009,000 after purchasing an additional 82,934 shares during the period. 88.06% of the stock is currently 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.