Dimensional Fund Advisors LP Has $726,000 Stake in 908 Devices Inc. $MASS

Key Points

• Dimensional Fund Advisors cut its 908 Devices stake by 51.8% in the first quarter, leaving it with 118,751 shares worth approximately $726,000. Institutional investors and hedge funds collectively own 88.06% of the company.
• 908 Devices reported quarterly revenue of $16.07 million and adjusted EPS of negative $0.11, beating analyst expectations for both revenue and losses, although the company remains unprofitable with a 56.96% negative net margin.
• Analyst views remain mixed: Roth Capital and Stifel raised their price targets and maintained Buy ratings, while other firms issued Hold or Sell ratings. The stock has a consensus rating of Hold and a $12.50 average price target.

Dimensional Fund Advisors LP lowered its position in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) by 51.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,751 shares of the company's stock after selling 127,863 shares during the period. Dimensional Fund Advisors LP owned 0.32% of 908 Devices worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company's stock worth $260,000 after buying an additional 1,894 shares in the last quarter. Graham Capital Management L.P. grew its stake in shares of 908 Devices by 12.9% in the fourth quarter. Graham Capital Management L.P. now owns 20,787 shares of the company's stock valued at $109,000 after acquiring an additional 2,374 shares in the last quarter. Cresset Asset Management LLC grew its stake in shares of 908 Devices by 37.1% in the third quarter. Cresset Asset Management LLC now owns 16,100 shares of the company's stock valued at $141,000 after acquiring an additional 4,355 shares in the last quarter. Barclays PLC grew its stake in shares of 908 Devices by 15.4% in the fourth quarter. Barclays PLC now owns 44,528 shares of the company's stock valued at $234,000 after acquiring an additional 5,943 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in 908 Devices during the second quarter worth about $48,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Joseph H. Iv Griffith sold 6,940 shares of the company's stock in a transaction on Thursday, May 28th. The stock was 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 directly owned 132,956 shares in the company, valued at $1,200,592.68. This represents a 4.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 8,358 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 805,559 shares in the company, valued at $7,435,309.57. This trade represents a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 106,940 shares of company stock worth $949,714. Company insiders own 28.20% of the company's stock.

908 Devices Stock Down 1.0%

Shares of 908 Devices stock opened at $10.01 on Friday. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $10.52. The company has a market capitalization of $413.71 million, a price-to-earnings ratio of -10.54 and a beta of 0.66. The firm's 50-day moving average price is $8.32 and its two-hundred day moving average price is $7.40.

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

Analysts Set New Price Targets

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

908 Devices 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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