FNY Investment Advisers LLC Makes New $338,000 Investment in 908 Devices Inc. (NASDAQ:MASS)

FNY Investment Advisers LLC bought a new position in 908 Devices Inc. (NASDAQ:MASS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 75,489 shares of the company's stock, valued at approximately $338,000. FNY Investment Advisers LLC owned approximately 0.21% of 908 Devices as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AWM Investment Company Inc. increased its stake in shares of 908 Devices by 6.3% during the 4th quarter. AWM Investment Company Inc. now owns 1,673,924 shares of the company's stock worth $3,683,000 after purchasing an additional 99,594 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 908 Devices by 2.4% during the 4th 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. Northern Trust Corp increased its stake in shares of 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 purchasing an additional 14,087 shares during the last quarter. Needham Investment Management LLC increased its stake in shares of 908 Devices by 100.0% during the 4th quarter. Needham Investment Management LLC now owns 200,000 shares of the company's stock worth $440,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new position in shares of 908 Devices during the 4th quarter worth $330,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

908 Devices Price Performance

NASDAQ:MASS traded up $0.62 during midday trading on Thursday, reaching $7.97. The stock had a trading volume of 1,022,155 shares, compared to its average volume of 1,028,029. 908 Devices Inc. has a 1-year low of $1.81 and a 1-year high of $8.03. The firm's fifty day simple moving average is $5.58 and its 200-day simple moving average is $3.79. The stock has a market capitalization of $285.81 million, a P/E ratio of -14.76 and a beta of 0.29.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $11.78 million for the quarter, compared to analyst estimates of $11.90 million. On average, equities research analysts anticipate that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research note on Wednesday, June 11th. Two research 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 has a consensus rating of "Moderate Buy" and a consensus price target of $5.33.

Insider Activity at 908 Devices

In other 908 Devices news, insider Michael S. Turner sold 16,082 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $7.51, for a total value of $120,775.82. Following 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $7.08, for a total transaction of $49,135.20. Following the completion of the sale, the chief financial officer now owns 102,930 shares in the company, valued at $728,744.40. This represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,543 shares of company stock worth $233,890. 23.70% of the stock is owned by insiders.

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.