First Light Asset Management LLC Purchases 210,241 Shares of 908 Devices Inc. $MASS

First Light Asset Management LLC boosted its position in 908 Devices Inc. (NASDAQ:MASS) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,282,804 shares of the company’s stock after purchasing an additional 210,241 shares during the period. 908 Devices comprises 3.3% of First Light Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. First Light Asset Management LLC owned approximately 15.20% of 908 Devices worth $54,660,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in 908 Devices in the second quarter valued at $27,000. Allworth Financial LP acquired a new position in shares of 908 Devices during the 2nd quarter worth $29,000. California State Teachers Retirement System raised its stake in shares of 908 Devices by 128.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,384 shares of the company’s stock worth $29,000 after buying an additional 1,902 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of 908 Devices in the 2nd quarter worth about $48,000. Finally, Intelligence Driven Advisers LLC purchased a new stake in shares of 908 Devices in the 1st quarter worth about $61,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

908 Devices Stock Performance

Shares of NASDAQ MASS opened at $9.69 on Thursday. 908 Devices Inc. has a 1 year low of $5.03 and a 1 year high of $11.25. The firm’s 50 day moving average price is $8.97 and its 200 day moving average price is $7.89. The firm has a market cap of $400.49 million, a P/E ratio of -10.20 and a beta of 0.68.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share 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 the consensus estimate of $15.37 million. As a group, equities analysts predict that 908 Devices Inc. will post -0.8 EPS for the current year.

Insiders Place Their Bets

In related news, Director Christopher Brown sold 30,000 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $10.58, for a total transaction of $317,400.00. Following the transaction, the director directly owned 775,559 shares in the company, valued at approximately $8,205,414.22. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph H. Iv Griffith sold 11,459 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total value of $125,476.05. Following the completion of the sale, the chief financial officer directly owned 121,497 shares in the company, valued at approximately $1,330,392.15. The trade was a 8.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 91,359 shares of company stock valued at $884,422. Company insiders own 28.20% of the company’s stock.

Wall Street Analyst Weigh In

MASS has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Roth Capital increased their price target on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Stifel Nicolaus increased their price target on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, 908 Devices has an average rating of “Hold” and an average target price of $12.50.

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.