Insider Selling: 908 Devices Inc. (NASDAQ:MASS) CFO Sells 6,940 Shares of Stock

908 Devices Inc. (NASDAQ:MASS - Get Free Report) CFO Joseph H. Iv Griffith sold 6,940 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $7.08, for a total value of $49,135.20. Following the sale, the chief financial officer now directly owns 102,930 shares of the company's stock, valued at approximately $728,744.40. This represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

908 Devices Price Performance

Shares of MASS stock traded up $0.26 during trading hours on Friday, reaching $6.94. 451,064 shares of the company's stock were exchanged, compared to its average volume of 1,013,702. The company has a market cap of $248.88 million, a P/E ratio of -3.92 and a beta of 0.29. The company's 50 day moving average is $4.97 and its two-hundred day moving average is $3.50. 908 Devices Inc. has a 1 year low of $1.81 and a 1 year high of $7.32.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.05. The business had revenue of $11.78 million during the quarter, compared to the consensus estimate of $11.90 million. 908 Devices had a negative return on equity of 24.60% and a negative net margin of 109.11%. As a group, analysts predict that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 908 Devices in a research note on Saturday, May 24th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.33.

Hedge Funds Weigh In On 908 Devices

A number of large investors have recently modified their holdings of MASS. AWM Investment Company Inc. grew its holdings in shares of 908 Devices by 210.6% in the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company's stock worth $23,296,000 after acquiring an additional 3,526,000 shares during the period. First Light Asset Management LLC acquired a new stake in shares of 908 Devices during the first quarter worth $7,621,000. Invesco Ltd. acquired a new position in 908 Devices in the first quarter valued at $2,910,000. Essex Investment Management Co. LLC acquired a new position in 908 Devices in the first quarter valued at $2,153,000. Finally, Prescott Group Capital Management L.L.C. acquired a new position in shares of 908 Devices during the fourth quarter worth about $330,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

908 Devices Company Profile

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.

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