908 Devices (NASDAQ:MASS) Director Christopher Brown Sells 17,578 Shares

Key Points

• Director Christopher Brown sold 17,578 shares on April 10 at an average price of $7.07 for proceeds of $124,276, executed under a pre-arranged Rule 10b5-1 plan, leaving him with 945,559 shares (a 1.83% reduction).
• 908 Devices slightly beat Quarter expectations, reporting a ($0.05) EPS vs. ($0.06) est. and $17.38M in revenue vs. $16.19M est., but analysts still forecast a negative full-year EPS (‑1.99) and the stock carries a consensus "Hold" rating with a $12 target.
• The stock traded up ~2.6% to $7.14 with a market cap of about $266.9M, a 52‑week range of $3.79–$9.34, and high institutional ownership at 88.06%.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 17,578 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $7.07, for a total transaction of $124,276.46. Following the completion of the transaction, the director directly owned 945,559 shares of the company's stock, valued at $6,685,102.13. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Up 2.6%

MASS traded up $0.18 during midday trading on Friday, hitting $7.14. The company's stock had a trading volume of 244,540 shares, compared to its average volume of 309,954. The firm has a market cap of $266.89 million, a P/E ratio of 12.98 and a beta of 0.54. 908 Devices Inc. has a 52-week low of $3.79 and a 52-week high of $9.34. The firm has a 50-day moving average price of $6.45 and a two-hundred day moving average price of $6.67.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. 908 Devices had a net margin of 34.68% and a negative return on equity of 14.99%. The company had revenue of $17.38 million during the quarter, compared to the consensus estimate of $16.19 million. On average, equities analysts expect that 908 Devices Inc. will post -1.99 EPS for the current year.

Institutional Investors Weigh In On 908 Devices

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new stake in 908 Devices during the 3rd quarter valued at $28,000. Raymond James Financial Inc. purchased a new position in shares of 908 Devices during the second quarter valued at $48,000. Daiwa Securities Group Inc. acquired a new position in 908 Devices during the second quarter valued at $61,000. PCM Encore LLC purchased a new stake in 908 Devices in the 4th quarter worth about $62,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in 908 Devices during the 2nd quarter worth about $77,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

MASS has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a report on Wednesday, January 21st. Wall Street Zen raised shares of 908 Devices from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, 908 Devices currently has a consensus rating of "Hold" and a consensus target price of $12.00.

About 908 Devices

908 Devices Inc NASDAQ: MASS is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company's core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.

Key products in 908 Devices' portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.

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