908 Devices Inc. (NASDAQ:MASS) Insider Sells $120,775.82 in Stock

908 Devices Inc. (NASDAQ:MASS - Get Free Report) insider Michael S. Turner sold 16,082 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the sale, the insider now directly owns 8,521 shares of the company's stock, valued at approximately $63,992.71. The trade was a 65.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 value of $10,297.50.

908 Devices Stock Up 8.4%

Shares of MASS traded up $0.62 during midday trading on Wednesday, hitting $7.97. The company had a trading volume of 1,022,155 shares, compared to its average volume of 1,025,768. 908 Devices Inc. has a 52 week low of $1.81 and a 52 week high of $8.17. The company's 50 day moving average price is $5.50 and its 200 day moving average price is $3.76. The stock has a market cap of $285.80 million, a price-to-earnings ratio of -14.76 and a beta of 0.29.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On 908 Devices

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in shares of 908 Devices in the 1st quarter worth about $365,000. AWM Investment Company Inc. grew its position in shares of 908 Devices by 210.6% during the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company's stock valued at $23,296,000 after buying an additional 3,526,000 shares during the last quarter. First Light Asset Management LLC acquired a new stake in 908 Devices during the first quarter worth about $7,621,000. PDT Partners LLC acquired a new position in 908 Devices in the first quarter valued at approximately $186,000. Finally, American Century Companies Inc. boosted its stake in 908 Devices by 10.8% in the first quarter. American Century Companies Inc. now owns 45,814 shares of the company's stock valued at $205,000 after acquiring an additional 4,471 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

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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