908 Devices (NASDAQ:MASS) Director Sells $317,400.00 in Stock

Key Points

• Director Christopher Brown sold 30,000 shares of 908 Devices at an average price of $10.58, generating $317,400. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 3.72% to 775,559 shares.
• 908 Devices shares recently traded near $10.05, well above their 50-day and 200-day moving averages, with a 52-week range of $5.03 to $11.25. The company remains unprofitable but exceeded quarterly earnings and revenue estimates.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $12.50. Institutional ownership is high at 88.06%, with several major funds recently increasing or initiating positions.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 30,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $10.58, for a total transaction of $317,400.00. Following the sale, the director directly owned 775,559 shares of the company's stock, valued at $8,205,414.22. The trade was a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

908 Devices stock traded up $0.01 during trading hours on Friday, reaching $10.05. The stock had a trading volume of 201,067 shares, compared to its average volume of 329,439. The company has a fifty day simple moving average of $8.88 and a 200-day simple moving average of $7.80. 908 Devices Inc. has a 52 week low of $5.03 and a 52 week high of $11.25. The stock has a market cap of $415.37 million, a PE ratio of -10.58 and a beta of 0.68.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $15.37 million. Research analysts predict that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus upped their target price on 908 Devices from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Roth Capital lifted their price target on shares of 908 Devices from $11.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of 908 Devices from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.50.

Institutional Investors Weigh In On 908 Devices

Hedge funds have recently made changes to their positions in the company. AWM Investment Company Inc. bought a new position in 908 Devices in the second quarter worth $42,454,000. First Light Asset Management LLC boosted its holdings in shares of 908 Devices by 92.6% during the 4th 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. bought a new stake in shares of 908 Devices during the 2nd quarter valued at $16,915,000. Granahan Investment Management LLC grew its position in shares of 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. Finally, Needham Investment Management LLC grew 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 worth $4,042,000 after buying an additional 548,000 shares during the period. 88.06% of the stock is currently owned by institutional investors.

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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