John Kenneweg Sells 7,787 Shares of 908 Devices (NASDAQ:MASS) Stock

Key Points

• SVP John Kenneweg sold 7,787 shares at an average price of $6.83 for $53,185 to cover tax withholding on vested awards, reducing his stake by 9.29% to 76,039 shares.
• Shares traded down 3.8% to $6.55 on Monday; the company has a market cap of about $245.3 million, a P/E of 11.91, and a 52-week range of $4.20–$9.34 (50-day SMA ~$6.60).
• 908 Devices slightly beat quarterly estimates (EPS -$0.05 vs. -$0.06; revenue $17.38M vs. $16.19M) and carries a MarketBeat consensus of "Moderate Buy" with an average target of $12, though analysts forecast a -$0.41 EPS for the year.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) SVP John Kenneweg sold 7,787 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $6.83, for a total transaction of $53,185.21. Following the completion of the sale, the senior vice president owned 76,039 shares of the company's stock, valued at $519,346.37. The trade was a 9.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

908 Devices Stock Down 3.8%

NASDAQ:MASS traded down $0.26 during trading hours on Monday, reaching $6.55. The company had a trading volume of 252,238 shares, compared to its average volume of 294,883. The firm has a market cap of $245.30 million, a price-to-earnings ratio of 11.91 and a beta of 0.57. The business's 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $6.51. 908 Devices Inc. has a twelve month low of $4.20 and a twelve month high of $9.34.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The business had revenue of $17.38 million during the quarter, compared to analysts' expectations of $16.19 million. 908 Devices had a net margin of 34.68% and a negative return on equity of 14.99%. As a group, equities analysts predict that 908 Devices Inc. will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On 908 Devices

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC bought a new position in shares of 908 Devices during the 3rd quarter worth approximately $28,000. Raymond James Financial Inc. bought a new position in shares of 908 Devices during the 2nd quarter worth approximately $48,000. Daiwa Securities Group Inc. bought a new position in shares of 908 Devices during the 2nd quarter worth approximately $61,000. PCM Encore LLC bought a new position in shares of 908 Devices during the 4th quarter worth approximately $62,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of 908 Devices during the 2nd quarter worth approximately $77,000. Institutional investors own 88.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MASS. Wall Street Zen upgraded shares of 908 Devices from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. Weiss Ratings upgraded shares of 908 Devices from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, April 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.00.

908 Devices Company Profile

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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