908 Devices (NASDAQ:MASS) CFO Joseph Iv Griffith Sells 6,940 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 6,940 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total value of $62,668.20. Following the completion of the sale, the chief financial officer owned 132,956 shares in the company, valued at $1,200,592.68. This represents a 4.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Down 5.8%

MASS opened at $8.41 on Friday. The stock’s 50-day moving average price is $7.03 and its 200 day moving average price is $6.44. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34. The firm has a market cap of $318.02 million, a price-to-earnings ratio of -8.41 and a beta of 0.57.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%.The firm had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. On average, research analysts forecast that 908 Devices Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on MASS. Weiss Ratings lowered 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Wall Street Zen lowered 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, 908 Devices currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Institutional Trading of 908 Devices

Large investors have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in 908 Devices by 5.5% in the second quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after buying an additional 1,894 shares during the last quarter. Graham Capital Management L.P. increased its holdings in 908 Devices by 12.9% in the fourth quarter. Graham Capital Management L.P. now owns 20,787 shares of the company’s stock valued at $109,000 after buying an additional 2,374 shares during the last quarter. Cresset Asset Management LLC increased its holdings in 908 Devices by 37.1% in the third quarter. Cresset Asset Management LLC now owns 16,100 shares of the company’s stock valued at $141,000 after buying an additional 4,355 shares during the last quarter. Barclays PLC increased its holdings in 908 Devices by 15.4% in the fourth quarter. Barclays PLC now owns 44,528 shares of the company’s stock valued at $234,000 after buying an additional 5,943 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in 908 Devices in the second quarter valued at $48,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.