Needham Investment Management LLC Has $4.04 Million Stock Holdings in 908 Devices Inc. $MASS

Needham Investment Management LLC raised its holdings in 908 Devices Inc. (NASDAQ:MASS) by 246.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 770,000 shares of the company’s stock after buying an additional 548,000 shares during the period. Needham Investment Management LLC owned about 2.13% of 908 Devices worth $4,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MASS. Raymond James Financial Inc. bought a new position in 908 Devices during the second quarter worth about $48,000. Daiwa Securities Group Inc. acquired a new stake in shares of 908 Devices during the 2nd quarter worth $61,000. PCM Encore LLC bought a new stake in 908 Devices during the fourth quarter worth about $62,000. The Manufacturers Life Insurance Company acquired a new stake in 908 Devices during the second quarter worth about $77,000. Finally, Walleye Capital LLC bought a new stake in shares of 908 Devices during the 2nd quarter worth approximately $82,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

908 Devices Stock Up 4.2%

NASDAQ MASS opened at $8.62 on Tuesday. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $9.34. The business’s fifty day moving average is $7.52 and its 200 day moving average is $6.64. The company has a market cap of $325.92 million, a price-to-earnings ratio of -8.62 and a beta of 0.63.

Insider Buying and Selling at 908 Devices

In other news, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total transaction of $62,668.20. Following the transaction, the chief financial officer owned 132,956 shares in the company, valued at approximately $1,200,592.68. The trade was a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of 908 Devices stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $6.83, for a total value of $53,185.21. Following the transaction, the senior vice president directly owned 76,039 shares in the company, valued at $519,346.37. The trade was a 9.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 151,520 shares of company stock valued at $1,176,201 in the last quarter. 28.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on MASS shares. Weiss Ratings downgraded shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded 908 Devices from a “buy” rating to a “hold” rating in a report on Sunday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.