Christopher Brown Sells 30,000 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $10.58, for a total value of $317,400.00. Following the sale, the director directly owned 775,559 shares in the company, valued at approximately $8,205,414.22. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Up 0.1%

Shares of MASS stock opened at $10.05 on Friday. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $11.25. The stock has a market cap of $415.37 million, a P/E ratio of -10.58 and a beta of 0.68. The stock has a 50 day moving average of $8.91 and a 200 day moving average of $7.82.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. The business had revenue of $16.07 million for the quarter, compared to analysts’ expectations of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. On average, research analysts predict that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MASS has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Stifel Nicolaus upped their price target on 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Roth Capital increased their price target on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen raised 908 Devices from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, 908 Devices currently has an average rating of “Hold” and a consensus price target of $12.50.

Hedge Funds Weigh In On 908 Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MASS. Legal & General Group Plc acquired a new position in shares of 908 Devices during the 2nd quarter worth about $27,000. Allworth Financial LP acquired a new stake in 908 Devices in the 2nd quarter worth about $29,000. California State Teachers Retirement System boosted its holdings in 908 Devices by 128.3% in the 2nd quarter. California State Teachers Retirement System now owns 3,384 shares of the company’s stock worth $29,000 after buying an additional 1,902 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in 908 Devices during the 2nd quarter worth approximately $48,000. Finally, Daiwa Securities Group Inc. purchased a new stake in 908 Devices during the 2nd quarter worth approximately $61,000. 88.06% of the stock is owned by hedge funds and other 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.