908 Devices (NASDAQ:MASS) Director Sells $144,600.00 in Stock

Key Points

• Director sold shares: Director Christopher Brown sold 20,000 shares at an average of $7.23 for $144,600 on May 6 under a pre-arranged Rule 10b5-1 plan and still holds 925,559 shares (a 2.12% reduction).
• Quarterly results slightly beat estimates: 908 Devices reported EPS of ($0.05) vs. consensus ($0.06) and revenue of $17.38 million vs. $16.19 million, signaling a modest beat on both metrics.
• Market and analyst view: MASS traded around $8.08 with a $302.6M market cap, a consensus rating of "Moderate Buy" and a $12.00 price target, while institutional investors own about 88.06% of the stock.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 20,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $7.23, for a total value of $144,600.00. Following the sale, the director owned 925,559 shares in the company, valued at $6,691,791.57. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

MASS stock traded up $0.02 during midday trading on Thursday, reaching $8.08. The company's stock had a trading volume of 543,604 shares, compared to its average volume of 303,401. The stock has a fifty day simple moving average of $6.64 and a two-hundred day simple moving average of $6.50. 908 Devices Inc. has a 1 year low of $4.20 and a 1 year high of $9.34. The firm has a market capitalization of $302.60 million, a price-to-earnings ratio of 14.69 and a beta of 0.57.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.99% and a net margin of 34.68%.The business had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. As a group, analysts forecast that 908 Devices Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MASS shares. Weiss Ratings upgraded 908 Devices from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, April 13th. Wall Street Zen raised 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 issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company's stock valued at $260,000 after purchasing an additional 1,894 shares during the period. Graham Capital Management L.P. raised its stake in shares of 908 Devices by 12.9% during the 4th quarter. Graham Capital Management L.P. now owns 20,787 shares of the company's stock worth $109,000 after buying an additional 2,374 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of 908 Devices during the 3rd quarter worth approximately $28,000. Cresset Asset Management LLC raised its stake in shares of 908 Devices by 37.1% during the 3rd quarter. Cresset Asset Management LLC now owns 16,100 shares of the company's stock worth $141,000 after buying an additional 4,355 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of 908 Devices by 15.4% during the 4th quarter. Barclays PLC now owns 44,528 shares of the company's stock worth $234,000 after buying an additional 5,943 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

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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