First Light Asset Management LLC Buys 210,241 Shares of 908 Devices Inc. $MASS

First Light Asset Management LLC grew its stake in shares of 908 Devices Inc. (NASDAQ:MASS) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,282,804 shares of the company’s stock after buying an additional 210,241 shares during the period. 908 Devices accounts for approximately 3.3% of First Light Asset Management LLC’s holdings, making the stock its 9th biggest holding. First Light Asset Management LLC owned approximately 0.15% of 908 Devices worth $54,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of 908 Devices in the 2nd quarter worth $27,000. Allworth Financial LP acquired a new position in 908 Devices in the second quarter valued at $29,000. California State Teachers Retirement System grew its position in 908 Devices by 128.3% during the second quarter. California State Teachers Retirement System now owns 3,384 shares of the company’s stock valued at $29,000 after acquiring an additional 1,902 shares during the period. Raymond James Financial Inc. purchased a new stake in 908 Devices during the second quarter valued at about $48,000. Finally, Daiwa Securities Group Inc. acquired a new stake in 908 Devices during the second quarter worth about $61,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at 908 Devices

In other news, Director Christopher Brown sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $10.58, for a total transaction of $317,400.00. Following the transaction, the director directly owned 775,559 shares of the company’s stock, valued at approximately $8,205,414.22. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph H. Iv Griffith sold 11,459 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total transaction of $125,476.05. Following the completion of the transaction, the chief financial officer owned 121,497 shares of the company’s stock, valued at $1,330,392.15. This trade represents a 8.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 91,359 shares of company stock valued at $884,422 in the last ninety days. 28.20% of the stock is owned by corporate insiders.

908 Devices Price Performance

Shares of NASDAQ MASS opened at $9.69 on Thursday. 908 Devices Inc. has a 1-year low of $5.03 and a 1-year high of $11.25. The company has a market capitalization of $400.49 million, a price-to-earnings ratio of -10.20 and a beta of 0.68. The business has a 50-day moving average of $8.97 and a 200-day moving average of $7.89.

908 Devices (NASDAQ:MASS) last announced its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The business had revenue of $16.07 million for the quarter, compared to the consensus estimate of $15.37 million. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%. Research analysts expect that 908 Devices Inc. will post -0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Stifel Nicolaus increased their target price on shares of 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Finally, Roth Capital raised their price target on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.50.

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.