Insider Selling: 908 Devices (NASDAQ:MASS) CFO Sells $125,476.05 in Stock

Key Points

• 908 Devices CFO Joseph Iv Griffith sold 11,459 shares for approximately $125,476 under a pre-arranged Rule 10b5-1 plan, reducing his position by 8.62% to 121,497 shares.
• MASS shares rose 7.0% to $11.10, near the company’s 52-week high, after quarterly results beat expectations with adjusted EPS of negative $0.11 and revenue of $16.07 million.
• Analyst sentiment is mixed: Stifel Nicolaus and Roth Capital raised their price targets to $12 and $13, respectively, while other firms maintained hold or sell ratings; the consensus rating is Hold with a $12.50 average target.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) CFO Joseph Iv Griffith sold 11,459 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total value of $125,476.05. Following the sale, the chief financial officer owned 121,497 shares in the company, valued at $1,330,392.15. The trade was a 8.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Up 7.0%

Shares of MASS traded up $0.73 during mid-day trading on Thursday, hitting $11.10. 502,200 shares of the company traded hands, compared to its average volume of 327,459. 908 Devices Inc. has a 1-year low of $5.03 and a 1-year high of $11.25. The company has a market capitalization of $458.81 million, a PE ratio of -11.68 and a beta of 0.66. The business has a 50 day moving average of $8.67 and a 200 day moving average of $7.63.

908 Devices (NASDAQ:MASS - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. The company had revenue of $16.07 million during the quarter, compared to analysts' expectations of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. As a group, research analysts expect that 908 Devices Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MASS shares. Stifel Nicolaus boosted their price objective 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. Roth Capital raised their target price on 908 Devices from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Wall Street Zen cut 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $12.50.

Institutional Trading of 908 Devices

Several institutional investors and hedge funds have recently bought and sold shares of MASS. AWM Investment Company Inc. acquired a new position in 908 Devices during the second quarter valued at $42,454,000. First Light Asset Management LLC grew its position in 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 worth $25,390,000 after purchasing an additional 2,325,690 shares during the period. BlackRock Inc. acquired a new stake in 908 Devices during the 2nd quarter worth about $16,915,000. Granahan Investment Management LLC raised its stake in shares of 908 Devices by 662.6% during the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company's stock valued at $4,254,000 after buying an additional 603,929 shares during the last quarter. Finally, Needham Investment Management LLC raised its stake in shares of 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company's stock valued at $4,042,000 after buying an additional 548,000 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source