908 Devices Inc. (NASDAQ:MASS) Insider Michael S. Turner Sells 7,148 Shares

908 Devices Inc. (NASDAQ:MASS - Get Free Report) insider Michael S. Turner sold 7,148 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total transaction of $53,681.48. Following the completion of the transaction, the insider now owns 1,373 shares of the company's stock, valued at $10,311.23. This represents a 83.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Michael S. Turner also recently made the following trade(s):

• On Wednesday, June 18th, Michael S. Turner sold 1,373 shares of 908 Devices stock. The stock was sold at an average price of $7.50, for a total transaction of $10,297.50.

908 Devices Trading Up 8.4%

Shares of 908 Devices stock traded up $0.62 during trading hours on Wednesday, reaching $7.97. The stock had a trading volume of 1,022,155 shares, compared to its average volume of 1,025,768. The stock's 50 day moving average is $5.50 and its 200 day moving average is $3.76. 908 Devices Inc. has a twelve month low of $1.81 and a twelve month high of $8.17. The firm has a market capitalization of $285.80 million, a PE ratio of -14.76 and a beta of 0.29.

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

Institutional Investors Weigh In On 908 Devices

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of 908 Devices by 190.9% in the 4th quarter. Bank of America Corp DE now owns 94,753 shares of the company's stock valued at $208,000 after buying an additional 62,179 shares during the period. Geode Capital Management LLC grew its holdings in shares of 908 Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 581,300 shares of the company's stock worth $1,279,000 after purchasing an additional 13,512 shares during the period. Hsbc Holdings PLC increased its position in shares of 908 Devices by 32.2% during the 4th quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock worth $46,000 after purchasing an additional 5,112 shares during the last quarter. Northern Trust Corp lifted its position in 908 Devices by 7.5% in the fourth quarter. Northern Trust Corp now owns 200,764 shares of the company's stock valued at $442,000 after buying an additional 14,087 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in 908 Devices during the fourth quarter worth about $42,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

908 Devices Company Profile

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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