908 Devices (NASDAQ:MASS) SVP John Kenneweg Sells 5,257 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 5,257 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $10.22, for a total transaction of $53,726.54. Following the completion of the sale, the senior vice president owned 57,784 shares of the company’s stock, valued at $590,552.48. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Kenneweg also recently made the following trade(s):

• On Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The stock was sold at an average price of $10.00, for a total transaction of $10,000.00.
• On Wednesday, September 16th, John Kenneweg sold 21,399 shares of 908 Devices stock. The stock was sold at an average price of $10.11, for a total transaction of $216,343.89.

908 Devices Trading Up 10.7%

MASS stock opened at $10.98 on Friday. The firm has a 50 day moving average of $9.16 and a 200-day moving average of $8.02. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $11.25. The company has a market cap of $453.85 million, a price-to-earnings ratio of -11.56 and a beta of 0.68.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share 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 return on equity of 12.54% and a negative net margin of 56.96%. Sell-side analysts forecast that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Roth Capital raised their target price 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. Stifel Nicolaus lifted 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. Canaccord Genuity Group started coverage on shares of 908 Devices in a report on Thursday, September 10th. They issued a “buy” rating and a $13.50 price target on the stock. Finally, Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.83.

Institutional Trading of 908 Devices

Institutional investors and hedge funds have recently made changes to their positions in the stock. Prescott Group Capital Management L.L.C. increased its position in 908 Devices by 90.3% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock worth $1,898,000 after purchasing an additional 171,590 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of 908 Devices during the second quarter worth about $16,915,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of 908 Devices during the fourth quarter worth about $630,000. First Light Asset Management LLC raised its position in shares of 908 Devices by 3.5% in the second quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock valued at $54,660,000 after buying an additional 210,241 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of 908 Devices in the second quarter valued at approximately $962,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

About 908 Devices

908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company’s technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.

Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.