Meros Investment Management LP Purchases Shares of 361,368 908 Devices Inc. $MASS

Meros Investment Management LP bought a new position in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 361,368 shares of the company's stock, valued at approximately $3,143,902. Meros Investment Management LP owned approximately 0.87% of 908 Devices at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. First Light Asset Management LLC lifted its stake in shares of 908 Devices by 92.6% in the fourth quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company's stock valued at $25,390,000 after buying an additional 2,325,690 shares in the last quarter. BlackRock Inc. purchased a new position in shares of 908 Devices during the second quarter valued at about $16,915,000. Granahan Investment Management LLC increased its stake in 908 Devices by 662.6% in the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company's stock worth $4,254,000 after buying an additional 603,929 shares during the period. Needham Investment Management LLC raised its position in shares of 908 Devices by 246.8% in the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company's stock valued at $4,042,000 after purchasing an additional 548,000 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in 908 Devices by 359.4% in the 2nd 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. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MASS has been the subject of a number of research reports. Wall Street Zen cut shares of 908 Devices from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Roth Capital increased their price objective on 908 Devices from $11.00 to $13.00 and gave the company a "buy" rating in a 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. Finally, Stifel Nicolaus lifted their price target on 908 Devices from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, 908 Devices currently has an average rating of "Hold" and a consensus price target of $12.50.

Insider Buying and Selling

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 11,459 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total transaction of $125,476.05. Following the completion of the sale, the chief financial officer directly owned 121,497 shares of the company's stock, valued at approximately $1,330,392.15. The trade was a 8.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 20,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $8.73, for a total value of $174,600.00. Following the transaction, the director directly owned 875,559 shares in the company, valued at approximately $7,643,630.07. This represents a 2.23% 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 sold 81,459 shares of company stock valued at $742,522 in the last quarter. 28.20% of the stock is currently owned by corporate insiders.

908 Devices Stock Down 3.3%

Shares of NASDAQ MASS traded down $0.37 during midday trading on Friday, reaching $10.73. 407,012 shares of the company's stock traded hands, compared to its average volume of 328,251. 908 Devices Inc. has a one year low of $5.03 and a one year high of $11.25. The stock's 50 day simple moving average is $8.72 and its 200-day simple moving average is $7.66. The company has a market cap of $443.47 million, a price-to-earnings ratio of -11.29 and a beta of 0.66.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $15.37 million. Equities analysts predict that 908 Devices Inc. will post -0.8 EPS for the current fiscal year.

908 Devices Company 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.