Joseph Iv Griffith Sells 23,175 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 23,175 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $6.18, for a total value of $143,221.50. Following the transaction, the chief financial officer directly owned 139,896 shares of the company’s stock, valued at $864,557.28. This represents a 14.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

908 Devices Price Performance

NASDAQ:MASS opened at $6.33 on Thursday. The firm’s 50-day moving average price is $5.95 and its 200-day moving average price is $6.66. The company has a market capitalization of $229.08 million, a PE ratio of -57.55 and a beta of 0.48. 908 Devices Inc. has a 1-year low of $1.92 and a 1-year high of $9.34.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The business had revenue of $14.01 million for the quarter, compared to analysts’ expectations of $13.58 million. 908 Devices had a negative net margin of 7.17% and a negative return on equity of 22.31%. Equities analysts anticipate that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

Hedge Funds Weigh In On 908 Devices

A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock worth $260,000 after purchasing an additional 1,894 shares during the period. ANTIPODES PARTNERS Ltd increased its holdings in 908 Devices by 49.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company’s stock valued at $47,000 after buying an additional 2,176 shares during the last quarter. Nisa Investment Advisors LLC raised its position in 908 Devices by 453.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock worth $27,000 after acquiring an additional 3,100 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of 908 Devices during the 3rd quarter worth $28,000. Finally, Cresset Asset Management LLC boosted its stake in shares of 908 Devices by 37.1% during the 3rd quarter. Cresset Asset Management LLC now owns 16,100 shares of the company’s stock worth $141,000 after acquiring an additional 4,355 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.00.

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.