Christopher Brown Sells 7,392 Shares of 908 Devices (NASDAQ:MASS) Stock

Key Points

• Director Christopher Brown sold 7,392 shares on April 9 at an average price of $7.04 for about $52,040 under a pre-arranged Rule 10b5-1 plan, leaving him with 963,137 shares (a 0.76% ownership reduction) as disclosed in an SEC Form 4.
• Shares traded at $7.14 (up $0.18) with a 52‑week range of $3.79–$9.34; the company has a market cap of about $266.9M and a PE ratio of 12.98.
• Institutional ownership is high (88.06%), with major stake increases from First Light, ARK and Needham, while analyst coverage is mixed (one Buy, one Sell) and the consensus rating is "Hold" with an average target of $12.00.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 7,392 shares of the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $7.04, for a total transaction of $52,039.68. Following the completion of the transaction, the director owned 963,137 shares in the company, valued at $6,780,484.48. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

Shares of MASS stock traded up $0.18 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 stock's 50 day moving average is $6.45 and its 200-day moving average is $6.67. 908 Devices Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $9.34. The company has a market capitalization of $266.89 million, a PE ratio of 12.98 and a beta of 0.54.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating 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 business had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. On average, research analysts forecast that 908 Devices Inc. will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On 908 Devices

A number of large investors have recently bought and sold shares of the company. First Light Asset Management LLC grew its stake in 908 Devices by 92.6% during the fourth quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company's stock worth $25,390,000 after buying an additional 2,325,690 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of 908 Devices by 1.6% during the 4th quarter. ARK Investment Management LLC now owns 1,985,986 shares of the company's stock valued at $10,426,000 after acquiring an additional 32,214 shares in the last quarter. Needham Investment Management LLC boosted its holdings in shares of 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company's stock valued at $4,042,000 after acquiring an additional 548,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 908 Devices by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 688,566 shares of the company's stock valued at $3,616,000 after acquiring an additional 16,477 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in 908 Devices by 359.4% during the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company's stock worth $4,626,000 after buying an additional 507,562 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MASS has been the topic of a number of analyst reports. Wall Street Zen raised 908 Devices from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, 908 Devices presently has an average rating of "Hold" and an average target price of $12.00.

908 Devices Company Profile

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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