Christopher Brown Sells 9,442 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 9,442 shares of the business’s stock in a transaction 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 transaction, the director 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 sale 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

908 Devices stock opened at $10.11 on Friday. The stock has a market cap of $417.85 million, a PE ratio of -10.64 and a beta of 0.66. The stock’s fifty day moving average is $8.28 and its two-hundred day moving average is $7.38. 908 Devices Inc. has a 1-year low of $5.03 and a 1-year high of $10.52.

908 Devices (NASDAQ:MASS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.29% and a negative net margin of 56.96%.The business had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $15.37 million. On average, research analysts expect that 908 Devices Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in 908 Devices in the second quarter valued at approximately $29,000. Raymond James Financial Inc. purchased a new position in shares of 908 Devices during the second quarter worth approximately $48,000. Daiwa Securities Group Inc. acquired a new position in shares of 908 Devices in the 2nd quarter valued at $61,000. Intelligence Driven Advisers LLC acquired a new position in shares of 908 Devices in the 1st quarter valued at $61,000. Finally, Russell Investments Group Ltd. purchased a new stake in 908 Devices in the 3rd quarter valued at $93,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

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

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.