908 Devices (NASDAQ:MASS) Director Christopher Brown Sells 20,000 Shares

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $8.73, for a total transaction of $174,600.00. Following the completion of the transaction, the director directly owned 875,559 shares of the company’s stock, valued at approximately $7,643,630.07. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

MASS stock traded up $0.16 during trading on Thursday, reaching $8.82. The company had a trading volume of 357,373 shares, compared to its average volume of 298,909. 908 Devices Inc. has a 52 week low of $5.03 and a 52 week high of $9.34. The company has a market cap of $333.48 million, a P/E ratio of -8.82 and a beta of 0.63. The business has a 50 day moving average of $7.19 and a 200 day moving average of $6.50.

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

Hedge Funds Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently made changes to their positions in MASS. AQR Capital Management LLC bought a new position in shares of 908 Devices during the first quarter valued at approximately $365,000. Geode Capital Management LLC increased its stake in shares of 908 Devices by 11.7% during the second quarter. Geode Capital Management LLC now owns 658,603 shares of the company’s stock valued at $4,697,000 after purchasing an additional 68,764 shares in the last quarter. Rhumbline Advisers increased its stake in shares of 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after purchasing an additional 1,894 shares in the last quarter. American Century Companies Inc. increased its stake in shares of 908 Devices by 22.9% during the second quarter. American Century Companies Inc. now owns 56,296 shares of the company’s stock valued at $401,000 after purchasing an additional 10,482 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of 908 Devices during the second quarter valued at approximately $82,000. Institutional investors own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.00.

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.