908 Devices (NASDAQ:MASS) Stock: Insider Christopher Brown Sells 30,000 Shares

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $10.95, for a total value of $328,500.00. Following the completion of the sale, the director owned 775,559 shares of the company’s stock, valued at approximately $8,492,371.05. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Up 4.0%

908 Devices stock opened at $10.56 on Friday. The stock has a 50-day simple moving average of $11.19 and a 200 day simple moving average of $8.48. The stock has a market capitalization of $436.44 million, a price-to-earnings ratio of -11.12 and a beta of 0.66. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $13.35.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. The firm had revenue of $16.07 million for the quarter, compared to analyst estimates of $15.37 million. As a group, sell-side analysts anticipate that 908 Devices Inc. will post -0.59 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in shares of 908 Devices during the 2nd quarter worth approximately $27,000. Allworth Financial LP bought a new stake in shares of 908 Devices during the second quarter worth approximately $29,000. Intelligence Driven Advisers LLC acquired a new position in 908 Devices in the first quarter valued at approximately $61,000. AXQ Capital LP acquired a new position in 908 Devices in the second quarter valued at approximately $93,000. Finally, PCM Encore LLC bought a new position in 908 Devices in the second quarter valued at approximately $103,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on MASS. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday. Canaccord Genuity Group began coverage on shares of 908 Devices in a research report on Thursday, September 10th. They issued a “buy” rating and a $13.50 price objective for the company. Stifel Nicolaus upped 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. Roth Capital increased their price objective on 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen cut 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.83.

About 908 Devices

908 Devices Inc is a Boston-based analytical technology company that develops purpose-built mass spectrometers for use outside traditional laboratory environments. Its instruments are designed to provide rapid chemical and biological analysis in the field, helping users identify unknown substances and make time-sensitive decisions.

The company’s product portfolio includes the MX908 handheld mass spectrometer, which is used to detect and identify chemical threats, explosives, narcotics and other hazardous materials.