Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells $105,961.50 in Stock

Key Points

• Director Christopher Brown sold 15,030 shares for a total of $105,961.50 at an average price of $7.05 under a pre‑arranged Rule 10b5‑1 plan, reducing his stake by 1.53% to 970,529 shares.
• 908 Devices beat quarterly estimates (EPS -$0.05 vs. -$0.06; revenue $17.38M vs. $16.19M) but still shows a negative return on equity and analysts expect about -1.99 EPS for the year.
• The stock traded at $7.14 (up 2.6%) with a market cap of roughly $266.9M, and analyst coverage is mixed with a consensus rating of Hold and a $12.00 consensus target price.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 15,030 shares of 908 Devices stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $7.05, for a total transaction of $105,961.50. Following the completion of the sale, the director owned 970,529 shares in the company, valued at approximately $6,842,229.45. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a filing 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 Trading Up 2.6%

NASDAQ MASS traded up $0.18 during trading on Friday, hitting $7.14. The company had a trading volume of 244,540 shares, compared to its average volume of 309,954. The company's fifty day moving average is $6.45 and its 200-day moving average is $6.67. 908 Devices Inc. has a one year low of $3.79 and a one year high of $9.34. The company has a market cap of $266.89 million, a price-to-earnings ratio of 12.98 and a beta of 0.54.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $17.38 million for the quarter, compared to analysts' expectations of $16.19 million. 908 Devices had a negative return on equity of 14.99% and a net margin of 34.68%. As a group, equities analysts anticipate that 908 Devices Inc. will post -1.99 EPS for the current year.

Hedge Funds Weigh In On 908 Devices

A number of hedge funds have recently bought and sold shares of MASS. AQR Capital Management LLC bought a new stake in 908 Devices during the 1st quarter valued at about $365,000. Geode Capital Management LLC lifted its stake in shares of 908 Devices by 11.7% in the second quarter. Geode Capital Management LLC now owns 658,603 shares of the company's stock worth $4,697,000 after buying an additional 68,764 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company's stock valued at $260,000 after buying an additional 1,894 shares during the last quarter. American Century Companies Inc. increased its position in shares of 908 Devices by 22.9% during the second quarter. American Century Companies Inc. now owns 56,296 shares of the company's stock valued at $401,000 after acquiring an additional 10,482 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of 908 Devices during the second quarter valued at approximately $82,000. Institutional investors own 88.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of 908 Devices from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, 908 Devices has an average rating of "Hold" and a consensus target price of $12.00.

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.