908 Devices (NASDAQ:MASS) Director Sells $89,496.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 9,900 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $9.04, for a total value of $89,496.00. Following the completion of the transaction, the director directly owned 865,559 shares of the company’s stock, valued at approximately $7,824,653.36. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Up 0.1%

MASS traded up $0.01 during trading on Thursday, reaching $8.98. 398,836 shares of the company’s stock were exchanged, compared to its average volume of 298,063. The company has a market capitalization of $339.53 million, a P/E ratio of -8.98 and a beta of 0.63. The business has a 50 day moving average price of $7.78 and a 200 day moving average price of $6.76. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $9.34.

Analysts Set New Price Targets

MASS has been the topic of several recent research reports. Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Weiss Ratings lowered shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Light Asset Management LLC boosted its stake in shares of 908 Devices by 25.6% in the 1st quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock valued at $37,164,000 after purchasing an additional 1,236,377 shares in the last quarter. ARK Investment Management LLC increased its position in shares of 908 Devices by 1.6% during the 4th quarter. ARK Investment Management LLC now owns 1,985,986 shares of the company’s stock worth $10,426,000 after purchasing an additional 32,214 shares in the last quarter. Needham Investment Management LLC lifted its holdings in 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after purchasing an additional 548,000 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in 908 Devices by 662.6% during the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after purchasing an additional 603,929 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in 908 Devices by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 688,566 shares of the company’s stock valued at $3,616,000 after buying an additional 16,477 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

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.