Bank of America Corp DE Acquires 62,179 Shares of 908 Devices Inc. (NASDAQ:MASS)

Bank of America Corp DE raised its stake in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 190.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,753 shares of the company's stock after buying an additional 62,179 shares during the period. Bank of America Corp DE owned 0.27% of 908 Devices worth $208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MASS. Geode Capital Management LLC grew its holdings in shares of 908 Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 581,300 shares of the company's stock worth $1,279,000 after purchasing an additional 13,512 shares during the last quarter. Hsbc Holdings PLC grew its holdings in 908 Devices by 32.2% during the 4th quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock worth $46,000 after acquiring an additional 5,112 shares during the last quarter. Northern Trust Corp grew its holdings in 908 Devices by 7.5% during the 4th quarter. Northern Trust Corp now owns 200,764 shares of the company's stock worth $442,000 after acquiring an additional 14,087 shares during the last quarter. Jane Street Group LLC increased its position in 908 Devices by 118.9% in the 4th quarter. Jane Street Group LLC now owns 113,890 shares of the company's stock valued at $251,000 after acquiring an additional 61,851 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of 908 Devices during the fourth quarter valued at $34,000. Institutional investors own 88.06% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, insider Michael S. Turner sold 16,082 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $7.51, for a total value of $120,775.82. Following the completion of the sale, the insider now directly owns 8,521 shares in the company, valued at $63,992.71. This trade represents a 65.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark Spoto bought 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average cost of $4.29 per share, with a total value of $42,900.00. Following the completion of the transaction, the director now directly owns 62,971 shares in the company, valued at $270,145.59. This represents a 18.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 31,543 shares of company stock valued at $233,890 over the last quarter. Insiders own 23.70% of the company's stock.

908 Devices Price Performance

Shares of 908 Devices stock traded up $0.62 during midday trading on Thursday, reaching $7.97. The company had a trading volume of 1,022,155 shares, compared to its average volume of 1,028,029. The stock has a fifty day moving average price of $5.58 and a 200 day moving average price of $3.79. 908 Devices Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $8.03. The firm has a market cap of $285.81 million, a PE ratio of -14.76 and a beta of 0.29.

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

908 Devices 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.