Insider Selling: 908 Devices (NASDAQ:MASS) SVP Sells $53,185.21 in Stock

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 7,787 shares of the company’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

908 Devices Price Performance

MASS opened at $8.06 on Thursday. 908 Devices Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $9.34. The firm has a market capitalization of $301.85 million, a PE ratio of 14.65 and a beta of 0.57. The company’s 50-day moving average is $6.64 and its 200 day moving average is $6.50.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. 908 Devices had a net margin of 34.68% and a negative return on equity of 14.99%. The company had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. As a group, analysts expect that 908 Devices Inc. will post -0.41 EPS for the current year.

Institutional Investors Weigh In On 908 Devices

Institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC grew its position in 908 Devices by 125.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock worth $5,291,000 after purchasing an additional 336,584 shares in the last quarter. First Light Asset Management LLC grew its position in 908 Devices by 135.2% in the 3rd quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock worth $21,992,000 after purchasing an additional 1,442,883 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in 908 Devices in the 3rd quarter worth about $327,000. HighMark Wealth Management LLC bought a new stake in 908 Devices in the 4th quarter worth about $1,265,000. Finally, Strs Ohio grew its position in shares of 908 Devices by 130.2% during the 4th quarter. Strs Ohio now owns 29,700 shares of the company’s stock valued at $156,000 after acquiring an additional 16,800 shares during the period. 88.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of 908 Devices from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 13th. Wall Street Zen upgraded shares of 908 Devices from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

About 908 Devices

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.