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

FNY Investment Advisers LLC bought a new position in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) during the first quarter, according to the company in its most recent disclosure 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 0.21% of 908 Devices at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Two Sigma Advisers LP bought a new position in shares of 908 Devices in the fourth quarter worth $30,000. Prudential Financial Inc. bought a new position in 908 Devices in the 4th quarter worth about $34,000. Occudo Quantitative Strategies LP purchased a new stake in shares of 908 Devices in the 4th quarter valued at about $36,000. Two Sigma Investments LP bought a new stake in shares of 908 Devices during the 4th quarter valued at about $42,000. Finally, Hsbc Holdings PLC grew its holdings in shares of 908 Devices by 32.2% during the fourth quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock worth $46,000 after purchasing an additional 5,112 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Joseph H. Iv Griffith sold 6,940 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were 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 directly owns 102,930 shares in the company, valued at $728,744.40. This represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Spoto purchased 10,000 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the acquisition, the director now owns 62,971 shares in the company, valued at approximately $270,145.59. The trade was a 18.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.33.

908 Devices Trading Up 1.7%

MASS opened at $7.31 on Monday. The stock has a market capitalization of $262.14 million, a P/E ratio of -4.13 and a beta of 0.29. The stock has a 50-day moving average price of $5.37 and a 200-day moving average price of $3.71. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $7.38.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its 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. The business had revenue of $11.78 million during the quarter, compared to analyst estimates of $11.90 million. 908 Devices had a negative return on equity of 24.60% and a negative net margin of 109.11%. On average, equities research analysts predict 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.

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