908 Devices Inc. (NASDAQ:MASS) Insider Michael S. Turner Sells 1,373 Shares

908 Devices Inc. (NASDAQ:MASS - Get Free Report) insider Michael S. Turner sold 1,373 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $7.50, for a total transaction of $10,297.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

908 Devices Stock Performance

Shares of 908 Devices stock traded up $0.62 during trading hours on Wednesday, hitting $7.97. The company's stock had a trading volume of 1,022,155 shares, compared to its average volume of 1,025,768. The business has a 50 day moving average price of $5.50 and a two-hundred day moving average price of $3.76. The company has a market cap of $285.80 million, a PE ratio of -14.76 and a beta of 0.29. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $8.17.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.05. 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. The firm had revenue of $11.78 million during the quarter, compared to analyst estimates of $11.90 million. As a group, research analysts anticipate that 908 Devices Inc. will post -1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research report on Wednesday, June 11th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.33.

Institutional Investors Weigh In On 908 Devices

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in 908 Devices by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company's stock valued at $233,000 after acquiring an additional 1,985 shares during the last quarter. American Century Companies Inc. increased its holdings in 908 Devices by 10.8% during the 1st quarter. American Century Companies Inc. now owns 45,814 shares of the company's stock worth $205,000 after purchasing an additional 4,471 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of 908 Devices by 32.2% in the 4th quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock worth $46,000 after buying an additional 5,112 shares during the period. CWM LLC grew its position in shares of 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after buying an additional 5,877 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of 908 Devices by 13.0% during the fourth quarter. LPL Financial LLC now owns 63,287 shares of the company's stock valued at $139,000 after buying an additional 7,295 shares during the period. Hedge funds and other institutional investors own 88.06% of the company's stock.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.

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