Insider Selling: 908 Devices Inc. (NASDAQ:MASS) Insider Sells 1,373 Shares of Stock

908 Devices Inc. (NASDAQ:MASS - Get Free Report) insider Michael S. Turner sold 1,373 shares of 908 Devices 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 sale was disclosed in a filing with the SEC, which is accessible through this link.

908 Devices Stock Down 7.9%

908 Devices stock traded down $0.63 during midday trading on Friday, hitting $7.34. The company's stock had a trading volume of 2,836,094 shares, compared to its average volume of 1,041,277. The stock's 50-day moving average price is $5.73 and its 200-day moving average price is $3.87. 908 Devices Inc. has a 12 month low of $1.81 and a 12 month high of $8.06. The company has a market capitalization of $263.21 million, a PE ratio of -13.59 and a beta of 0.29.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $11.90 million. As a group, equities analysts anticipate that 908 Devices Inc. will post -1.99 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research note on Wednesday, June 11th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, 908 Devices presently 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 bought and sold shares of the business. AQR Capital Management LLC purchased a new position in 908 Devices in the 1st quarter worth about $365,000. AWM Investment Company Inc. increased its stake in 908 Devices by 210.6% in the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company's stock worth $23,296,000 after purchasing an additional 3,526,000 shares in the last quarter. First Light Asset Management LLC purchased a new position in 908 Devices in the 1st quarter worth about $7,621,000. PDT Partners LLC purchased a new position in 908 Devices in the 1st quarter worth about $186,000. Finally, American Century Companies Inc. increased its stake in 908 Devices by 10.8% in 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 in the last quarter. 88.06% of the stock is currently owned by institutional investors.

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.