908 Devices (NASDAQ:MASS) Director Sells $85,261.26 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 9,442 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $9.03, for a total transaction of $85,261.26. Following the sale, the director directly owned 813,917 shares of the company’s stock, valued at approximately $7,349,670.51. The trade was a 1.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

Shares of MASS opened at $10.01 on Friday. The company has a market capitalization of $413.71 million, a P/E ratio of -10.54 and a beta of 0.66. 908 Devices Inc. has a one year low of $5.03 and a one year high of $10.52. The business’s 50 day simple moving average is $8.32 and its 200-day simple moving average is $7.40.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%.The business had revenue of $16.07 million for the quarter, compared to analyst estimates of $15.37 million. On average, sell-side analysts anticipate that 908 Devices Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

MASS has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Wall Street Zen downgraded shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Roth Capital increased their price objective on shares of 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus raised their price objective on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AWM Investment Company Inc. bought a new position in 908 Devices in the 2nd quarter valued at $42,454,000. Meros Investment Management LP bought a new stake in shares of 908 Devices during the second quarter worth $3,143,902,000. Legal & General Group Plc acquired a new position in shares of 908 Devices during the second quarter valued at $27,000. Allworth Financial LP acquired a new position in shares of 908 Devices during the second quarter valued at $29,000. Finally, PCM Encore LLC bought a new position in 908 Devices in the second quarter valued at about $103,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.