Prescott Group Capital Management L.L.C. Acquires 171,590 Shares of 908 Devices Inc. $MASS

Key Points

• Prescott Group Capital Management increased its stake in 908 Devices by 90.3% in the fourth quarter, adding 171,590 shares to bring its total to 361,595 shares worth about $1.9 million.
• The stock has seen broad institutional interest, with several other large investors also boosting positions and 88.06% of shares now held by institutions.
• 908 Devices recently reported a smaller-than-expected quarterly loss and revenue above estimates, but insiders have also been selling shares, while analysts currently rate the stock Hold with a $12 price target.

Prescott Group Capital Management L.L.C. raised its holdings in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 90.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 361,595 shares of the company's stock after buying an additional 171,590 shares during the quarter. Prescott Group Capital Management L.L.C. owned about 1.00% of 908 Devices worth $1,898,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MASS. First Light Asset Management LLC grew its position in shares of 908 Devices by 135.2% in the 3rd quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company's stock worth $21,992,000 after buying an additional 1,442,883 shares during the last quarter. Marshall Wace LLP grew its position in shares of 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 buying an additional 507,562 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of 908 Devices by 125.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company's stock worth $5,291,000 after buying an additional 336,584 shares during the last quarter. Bank of America Corp DE grew its position in shares of 908 Devices by 221.7% in the 2nd quarter. Bank of America Corp DE now owns 363,217 shares of the company's stock worth $2,590,000 after buying an additional 250,311 shares during the last quarter. Finally, HighMark Wealth Management LLC bought a new stake in shares of 908 Devices in the 4th quarter worth approximately $1,265,000. 88.06% of the stock is currently owned by institutional investors.

908 Devices Stock Up 2.9%

NASDAQ MASS opened at $6.98 on Thursday. 908 Devices Inc. has a twelve month low of $4.47 and a twelve month high of $9.34. The firm has a market capitalization of $263.94 million, a PE ratio of -6.98 and a beta of 0.57. The stock's 50 day moving average is $6.79 and its 200 day moving average is $6.43.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%.The company had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. On average, research analysts anticipate that 908 Devices Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other 908 Devices news, SVP Kevin J. Mccallion sold 5,420 shares of the business's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $7.03, for a total value of $38,102.60. Following the sale, the senior vice president directly owned 44,925 shares of the company's stock, valued at approximately $315,822.75. The trade was a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $6.83, for a total value of $53,185.21. Following the completion of the sale, the senior vice president directly owned 76,039 shares in the company, valued at $519,346.37. This trade represents a 9.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 94,480 shares of company stock valued at $668,032. 28.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings lowered 908 Devices from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.00.

About 908 Devices

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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