Christopher Brown Sells 2,200 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 2,200 shares of 908 Devices stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $9.02, for a total transaction of $19,844.00. Following the completion of the sale, the director owned 843,359 shares of the company’s stock, valued at $7,607,098.18. This trade represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Down 2.4%

NASDAQ MASS opened at $7.88 on Thursday. The company has a fifty day simple moving average of $8.07 and a two-hundred day simple moving average of $6.93. The stock has a market cap of $297.94 million, a P/E ratio of -7.88 and a beta of 0.63. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34.

Analyst Ratings Changes

A number of analysts have commented on MASS shares. Weiss Ratings cut 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded 908 Devices from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, 908 Devices has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Investors Weigh In On 908 Devices

Several hedge funds have recently added to or reduced their stakes in MASS. First Light Asset Management LLC grew its holdings in 908 Devices by 135.2% during the third quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock worth $21,992,000 after acquiring an additional 1,442,883 shares during the period. Prescott Group Capital Management L.L.C. lifted its holdings in 908 Devices by 90.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock valued at $1,898,000 after acquiring an additional 171,590 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new stake in 908 Devices in the 4th quarter worth approximately $630,000. Meros Investment Management LP boosted its position in 908 Devices by 232.7% in the 4th quarter. Meros Investment Management LP now owns 347,035 shares of the company’s stock worth $1,822,000 after purchasing an additional 242,712 shares in the last quarter. Finally, Needham Investment Management LLC grew its stake in shares of 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after purchasing an additional 548,000 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.