John Kenneweg Sells 5,257 Shares of 908 Devices (NASDAQ:MASS) Stock

Key Points

• Insider selling: 908 Devices SVP John Kenneweg sold 5,257 shares for approximately $53,727 under a pre-arranged Rule 10b5-1 plan, reducing his position by 8.34%. He also sold 22,399 shares in two earlier transactions that week.
• Stock performance and results: MASS shares rose 10.7% to $10.98, near their 52-week high of $11.25. The company exceeded quarterly earnings and revenue expectations, reporting an adjusted loss of $0.11 per share and $16.07 million in revenue.
• Analyst outlook: Wall Street’s consensus rating is “Moderate Buy,” with an average price target of $12.83; three analysts rate the stock Buy and one rates it Sell. Institutional investors own approximately 88.06% of the company.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) SVP John Kenneweg sold 5,257 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $10.22, for a total transaction of $53,726.54. Following the transaction, the senior vice president directly owned 57,784 shares of the company's stock, valued at $590,552.48. The trade was a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Kenneweg also recently made the following trade(s):

• On Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The shares were sold at an average price of $10.00, for a total value of $10,000.00.
• On Wednesday, September 16th, John Kenneweg sold 21,399 shares of 908 Devices stock. The shares were sold at an average price of $10.11, for a total transaction of $216,343.89.

908 Devices Stock Up 10.7%

MASS stock traded up $1.06 during midday trading on Thursday, hitting $10.98. The company's stock had a trading volume of 689,788 shares, compared to its average volume of 328,921. 908 Devices Inc. has a 52-week low of $5.03 and a 52-week high of $11.25. The firm has a market capitalization of $453.80 million, a P/E ratio of -11.56 and a beta of 0.68. The firm has a 50-day simple moving average of $9.11 and a 200-day simple moving average of $7.99.

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 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 firm had revenue of $16.07 million during the quarter, compared to analysts' expectations of $15.37 million. On average, sell-side analysts expect that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Canaccord Genuity Group started coverage on 908 Devices in a report on Thursday, September 10th. They issued a "buy" rating and a $13.50 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research note on Friday, August 7th. Stifel Nicolaus upped their price target 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 increased their price target on shares of 908 Devices from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen cut shares of 908 Devices from a "buy" rating to a "hold" rating in a report on Saturday, September 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.83.

Institutional Trading of 908 Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Prescott Group Capital Management L.L.C. boosted its holdings in shares of 908 Devices by 90.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company's stock valued at $1,898,000 after acquiring an additional 171,590 shares during the period. BlackRock Inc. acquired a new position in shares of 908 Devices during the second quarter worth about $16,915,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of 908 Devices in the 4th quarter valued at approximately $630,000. First Light Asset Management LLC lifted its holdings in 908 Devices by 25.6% in the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company's stock valued at $37,164,000 after acquiring an additional 1,236,377 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in 908 Devices in the second quarter valued at about $962,000. Institutional investors and hedge funds own 88.06% of the company's stock.

908 Devices Company Profile

908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company's technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.

Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.

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.