4,879,773 Shares in 908 Devices Inc. $MASS Acquired by AWM Investment Company Inc.

Key Points

• AWM Investment Company acquired 4.88 million shares of 908 Devices, worth approximately $42.5 million, making the company its third-largest holding and giving AWM an 11.81% stake. Institutional investors collectively own 88.06% of the stock.
• 908 Devices reported quarterly revenue of $16.07 million and an adjusted loss of $0.11 per share, beating analyst estimates, though it remained unprofitable with a negative net margin of 56.96%.
• Analyst sentiment is mixed: Stifel Nicolaus and Roth Capital issued “buy” ratings with price targets of $12 and $13, while other firms maintained “sell” or “hold” views. The consensus rating is Hold, with an average price target of $12.50.

AWM Investment Company Inc. bought a new position in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,879,773 shares of the company's stock, valued at approximately $42,454,000. 908 Devices accounts for about 3.7% of AWM Investment Company Inc.'s holdings, making the stock its 3rd largest position. AWM Investment Company Inc. owned about 11.81% of 908 Devices at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Light Asset Management LLC increased its stake in shares of 908 Devices by 92.6% during the 4th quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company's stock worth $25,390,000 after purchasing an additional 2,325,690 shares in the last quarter. BlackRock Inc. acquired a new position in shares of 908 Devices during the 2nd quarter valued at $16,915,000. Granahan Investment Management LLC grew its position in 908 Devices by 662.6% in the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company's stock valued at $4,254,000 after acquiring an additional 603,929 shares in the last quarter. Needham Investment Management LLC lifted its holdings in 908 Devices by 246.8% in the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company's stock worth $4,042,000 after buying an additional 548,000 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of 908 Devices by 359.4% in the second quarter. Marshall Wace LLP now owns 648,796 shares of the company's stock worth $4,626,000 after acquiring an additional 507,562 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

908 Devices Stock Up 0.7%

Shares of NASDAQ MASS opened at $11.00 on Wednesday. 908 Devices Inc. has a 12 month low of $5.03 and a 12 month high of $11.25. The company has a market cap of $454.63 million, a P/E ratio of -11.58 and a beta of 0.66. The business's 50 day moving average is $8.64 and its two-hundred day moving average is $7.60.

908 Devices (NASDAQ:MASS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $16.07 million for the quarter, compared to analyst estimates of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. Sell-side analysts expect that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christopher D. Brown sold 8,358 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $9.23, for a total value of $77,144.34. Following the completion of the transaction, the director directly owned 805,559 shares of the company's stock, valued at approximately $7,435,309.57. This represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total transaction of $62,668.20. Following the completion of the sale, the chief financial officer owned 132,956 shares in the company, valued at $1,200,592.68. The trade was a 4.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 106,940 shares of company stock valued at $949,714 in the last ninety days. Company insiders own 28.20% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MASS. Stifel Nicolaus boosted their price objective on 908 Devices from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a research note on Friday, August 7th. Roth Capital lifted their price target on shares of 908 Devices from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $12.50.

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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