Needham Investment Management LLC Acquires 548,000 Shares of 908 Devices Inc. $MASS

Needham Investment Management LLC boosted its position in 908 Devices Inc. (NASDAQ:MASS) by 246.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 770,000 shares of the company’s stock after acquiring an additional 548,000 shares during the quarter. Needham Investment Management LLC’s holdings in 908 Devices were worth $4,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC lifted its position in shares of 908 Devices by 63.5% during the fourth quarter. Squarepoint Ops LLC now owns 218,676 shares of the company’s stock valued at $1,148,000 after purchasing an additional 84,902 shares in the last quarter. Barclays PLC boosted its position in 908 Devices by 15.4% in the fourth quarter. Barclays PLC now owns 44,528 shares of the company’s stock worth $234,000 after purchasing an additional 5,943 shares during the last quarter. PCM Encore LLC purchased a new position in shares of 908 Devices in the 4th quarter worth about $62,000. Wells Fargo & Company MN grew its position in 908 Devices by 72.1% during the fourth quarter. Wells Fargo & Company MN now owns 30,623 shares of the company’s stock valued at $161,000 after buying an additional 12,828 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of 908 Devices during the 4th quarter valued at approximately $193,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on MASS. Weiss Ratings downgraded shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen lowered 908 Devices from a “buy” rating to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.00.

Insider Buying and Selling at 908 Devices

In other 908 Devices news, Director Christopher D. Brown sold 30,000 shares of 908 Devices stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $9.00, for a total value of $270,000.00. Following the transaction, the director directly owned 895,559 shares of the company’s stock, valued at $8,060,031. The trade was a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president owned 76,039 shares in the company, valued at $519,346.37. This represents a 9.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 151,520 shares of company stock worth $1,176,201 in the last 90 days. 28.20% of the stock is owned by company insiders.

908 Devices Stock Up 4.2%

NASDAQ MASS opened at $8.62 on Tuesday. The company has a market capitalization of $325.92 million, a price-to-earnings ratio of -8.62 and a beta of 0.63. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $9.34. The stock’s 50-day simple moving average is $7.52 and its two-hundred day simple moving average is $6.64.

908 Devices 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.