Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells $169,800.00 in Stock

Key Points

• 908 Devices director Christopher Brown sold 20,000 shares at an average price of $8.49, totaling $169,800. The Rule 10b5-1 plan transaction reduced his ownership by 2.37%, leaving him with 823,359 shares.
• MASS shares recently traded at $8.88, near their 12-month high of $9.34, with the stock up above both its 50-day and 200-day moving averages. The company has a market capitalization of approximately $335.8 million.
• Institutional ownership stands at 88.06%, while analyst sentiment is mixed: Roth Capital initiated coverage with a Buy rating and an $11 target, but other ratings include Sell and Hold, producing an overall “Hold” consensus.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 20,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $8.49, for a total value of $169,800.00. Following the completion of the transaction, the director owned 823,359 shares in the company, valued at approximately $6,990,317.91. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

MASS traded up $0.58 on Friday, reaching $8.88. 322,938 shares of the company's stock were exchanged, compared to its average volume of 299,640. The company's 50 day moving average is $8.19 and its 200-day moving average is $7.27. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $9.34. The company has a market cap of $335.75 million, a price-to-earnings ratio of -8.88 and a beta of 0.66.

Institutional Investors Weigh In On 908 Devices

Several institutional investors have recently added to or reduced their stakes in MASS. First Light Asset Management LLC lifted its holdings in shares of 908 Devices by 92.6% in 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 in the last quarter. BlackRock Inc. bought a new stake in 908 Devices in the 2nd quarter worth about $16,915,000. Granahan Investment Management LLC lifted its holdings in 908 Devices by 662.6% during the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company's stock worth $4,254,000 after acquiring an additional 603,929 shares during the period. Needham Investment Management LLC increased its holdings in 908 Devices by 246.8% during the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company's stock worth $4,042,000 after buying an additional 548,000 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of 908 Devices by 359.4% during the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company's stock valued at $4,626,000 after acquiring an additional 507,562 shares during the period. 88.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Roth Capital initiated coverage on shares of 908 Devices in a research note on Wednesday, July 29th. They set a "buy" rating and a $11.00 target price for the company. Weiss Ratings lowered 908 Devices from a "hold (c-)" rating to a "sell (d-)" rating in a report on Monday, May 11th. Finally, Wall Street Zen cut 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, 908 Devices presently has an average rating of "Hold" and an average price target of $11.00.

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.

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