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

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $11.89, for a total value of $356,700.00. Following the completion of the transaction, the director owned 745,559 shares of the company’s stock, valued at $8,864,696.51. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Up 4.3%

NASDAQ MASS opened at $12.05 on Friday. The business’s 50-day moving average price is $10.52 and its 200 day moving average price is $8.62. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $13.35. The company has a market capitalization of $498.03 million, a PE ratio of -12.68 and a beta of 0.63.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%. The company had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $15.37 million. Equities analysts predict that 908 Devices Inc. will post -0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MASS. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Stifel Nicolaus raised their price objective on 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Canaccord Genuity Group started coverage on 908 Devices in a research note on Thursday, September 10th. They issued a “buy” rating and a $13.50 price objective on the stock. Wall Street Zen cut 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Roth Capital raised their price target on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Three equities research analysts have 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 has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Institutional Trading of 908 Devices

Several large investors have recently added to or reduced their stakes in MASS. First Light Asset Management LLC lifted its stake in shares of 908 Devices by 3.5% during the second quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock worth $54,660,000 after purchasing an additional 210,241 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in shares of 908 Devices in the second quarter valued at about $42,454,000. BlackRock Inc. purchased a new stake in shares of 908 Devices during the 2nd quarter valued at about $16,915,000. Granahan Investment Management LLC raised its holdings in shares of 908 Devices by 662.6% during the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after buying an additional 603,929 shares during the period. Finally, Needham Investment Management LLC lifted its position in 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 acquiring an additional 548,000 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

908 Devices Company Profile

908 Devices Inc is a Boston-based technology company that develops and manufactures handheld and portable chemical detection and analysis instruments. Its products are designed to help users identify and characterize chemical substances in the field, at industrial sites and in laboratory settings without requiring samples to be transported to a centralized facility.

The company’s product portfolio includes the MX908 and related devices for detecting and identifying trace chemicals, explosives, narcotics and other substances; the Xplora platform for field and process analysis; and ZipChip technologies used for rapid, high-resolution separations in life sciences and biopharmaceutical research.