908 Devices (NASDAQ:MASS) Director Sells $144,600.00 in Stock
by Teresa Graham · The Cerbat Gem908 Devices Inc. (NASDAQ:MASS – Get Free Report) Director Christopher Brown sold 20,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $7.23, for a total value of $144,600.00. Following the sale, the director owned 925,559 shares in the company, valued at $6,691,791.57. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Stock Performance
MASS stock traded up $0.02 during midday trading on Thursday, reaching $8.08. The company’s stock had a trading volume of 543,604 shares, compared to its average volume of 303,401. The stock has a fifty day simple moving average of $6.64 and a two-hundred day simple moving average of $6.50. 908 Devices Inc. has a 1 year low of $4.20 and a 1 year high of $9.34. The firm has a market capitalization of $302.60 million, a price-to-earnings ratio of 14.69 and a beta of 0.57.
908 Devices (NASDAQ:MASS – Get Free Report) last posted 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 return on equity of 14.99% and a net margin of 34.68%.The business had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. As a group, analysts forecast that 908 Devices Inc. will post -0.41 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on MASS shares. Weiss Ratings upgraded 908 Devices from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 13th. Wall Street Zen raised 908 Devices from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.
Get Our Latest Stock Analysis on MASS
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after purchasing an additional 1,894 shares during the period. Graham Capital Management L.P. raised its stake in shares of 908 Devices by 12.9% during the 4th quarter. Graham Capital Management L.P. now owns 20,787 shares of the company’s stock worth $109,000 after buying an additional 2,374 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of 908 Devices during the 3rd quarter worth approximately $28,000. Cresset Asset Management LLC raised its stake in shares of 908 Devices by 37.1% during the 3rd quarter. Cresset Asset Management LLC now owns 16,100 shares of the company’s stock worth $141,000 after buying an additional 4,355 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of 908 Devices by 15.4% during the 4th quarter. Barclays PLC now owns 44,528 shares of the company’s stock worth $234,000 after buying an additional 5,943 shares in the last quarter. 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.