Insider Selling: 908 Devices (NASDAQ:MASS) CFO Sells $65,150.00 in Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $13.03, for a total transaction of $65,150.00. Following the sale, the chief financial officer owned 116,497 shares of the company’s stock, valued at $1,517,955.91. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

908 Devices stock traded down $0.23 during trading hours on Thursday, reaching $11.55. The stock had a trading volume of 448,053 shares, compared to its average volume of 337,020. The company has a fifty day simple moving average of $10.36 and a 200-day simple moving average of $8.56. 908 Devices Inc. has a 52 week low of $5.03 and a 52 week high of $13.35. The stock has a market cap of $477.36 million, a PE ratio of -12.16 and a beta of 0.63.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $16.07 million during the quarter, compared to the consensus estimate of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. Research analysts predict that 908 Devices Inc. will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of 908 Devices

Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in shares of 908 Devices during the second quarter valued at $27,000. Allworth Financial LP purchased a new position in 908 Devices in the 2nd quarter worth approximately $29,000. Intelligence Driven Advisers LLC bought a new position in 908 Devices in the 1st quarter valued at approximately $61,000. AXQ Capital LP purchased a new position in shares of 908 Devices in the second quarter worth $93,000. Finally, PCM Encore LLC bought a new position in shares of 908 Devices during the second quarter valued at $103,000. 88.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Canaccord Genuity Group began coverage on shares of 908 Devices in a research report on Thursday, September 10th. They set a “buy” rating and a $13.50 price objective on the stock. Stifel Nicolaus raised 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, Roth Capital increased their price target on shares of 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, 908 Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

908 Devices Company Profile

908 Devices Inc is a Boston-based technology company that develops and manufactures handheld and portable chemical detection and analysis instruments. Its products are designed to help users identify and characterize chemical substances in the field, at industrial sites and in laboratory settings without requiring samples to be transported to a centralized facility.

The company’s product portfolio includes the MX908 and related devices for detecting and identifying trace chemicals, explosives, narcotics and other substances; the Xplora platform for field and process analysis; and ZipChip technologies used for rapid, high-resolution separations in life sciences and biopharmaceutical research.