908 Devices (NASDAQ:MASS) Stock: Insider Joseph Iv Griffith Sells 5,000 Shares

Key Points

• CFO Joseph Iv Griffith sold 5,000 shares of 908 Devices at an average price of $13.03, totaling $65,150, under a pre-arranged Rule 10b5-1 trading plan. He retained 116,497 shares after the sale.
• 908 Devices shares recently traded at $11.55, with a market capitalization of approximately $477 million and a 52-week range of $5.03 to $13.35.
• The company exceeded quarterly expectations, reporting revenue of $16.07 million and an adjusted loss of $0.11 per share versus the expected $0.14 loss. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $12.83.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) CFO Joseph Iv Griffith sold 5,000 shares of 908 Devices stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $13.03, for a total transaction of $65,150.00. Following the completion of the sale, the chief financial officer directly owned 116,497 shares in the company, valued at approximately $1,517,955.91. This represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

Shares of 908 Devices stock traded down $0.23 on Thursday, reaching $11.55. 448,053 shares of the company traded hands, compared to its average volume of 337,020. The company has a 50 day moving average of $10.36 and a 200 day moving average of $8.56. 908 Devices Inc. has a 52 week low of $5.03 and a 52 week high of $13.35. The firm has a market capitalization of $477.36 million, a PE ratio of -12.16 and a beta of 0.63.

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 the consensus estimate of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%.The business had revenue of $16.07 million for the quarter, compared to the consensus estimate of $15.37 million. As a group, analysts anticipate that 908 Devices Inc. will post -0.59 earnings per share for the current year.

Hedge Funds Weigh In On 908 Devices

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new stake in shares of 908 Devices in the 2nd quarter valued at $27,000. Allworth Financial LP purchased a new position in 908 Devices in the 2nd quarter worth $29,000. Renaissance Technologies LLC raised its position in 908 Devices by 3.6% in the 1st quarter. Renaissance Technologies LLC now owns 230,200 shares of the company's stock worth $1,409,000 after purchasing an additional 8,100 shares during the period. Intelligence Driven Advisers LLC bought a new stake in 908 Devices in the first quarter worth $61,000. Finally, AXQ Capital LP purchased a new stake in 908 Devices during the second quarter valued at about $93,000. 88.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research report on Friday, August 7th. Stifel Nicolaus boosted their target price on shares of 908 Devices from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Wall Street Zen cut 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. Roth Capital boosted their price objective on 908 Devices from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group initiated coverage on 908 Devices in a report on Thursday, September 10th. They set a "buy" rating and a $13.50 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.83.

908 Devices Company Profile

908 Devices Inc is a Boston-based technology company that develops and manufactures handheld and portable chemical detection and analysis instruments. Its products are designed to help users identify and characterize chemical substances in the field, at industrial sites and in laboratory settings without requiring samples to be transported to a centralized facility.

The company's product portfolio includes the MX908 and related devices for detecting and identifying trace chemicals, explosives, narcotics and other substances; the Xplora platform for field and process analysis; and ZipChip technologies used for rapid, high-resolution separations in life sciences and biopharmaceutical research.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.