908 Devices (NASDAQ:MASS) CFO Sells $125,476.05 in Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 11,459 shares of 908 Devices stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total value of $125,476.05. Following the transaction, the chief financial officer owned 121,497 shares of the company’s stock, valued at approximately $1,330,392.15. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Up 7.0%

908 Devices stock traded up $0.73 during mid-day trading on Thursday, hitting $11.10. The company had a trading volume of 502,200 shares, compared to its average volume of 327,459. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $11.25. The company’s fifty day moving average is $8.67 and its 200-day moving average is $7.63. The company has a market capitalization of $458.81 million, a price-to-earnings ratio of -11.68 and a beta of 0.66.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MASS. Stifel Nicolaus lifted their price objective on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Roth Capital increased their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Finally, Wall Street Zen lowered 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.50.

Institutional Trading of 908 Devices

A number of institutional investors and hedge funds have recently modified their holdings of MASS. Legal & General Group Plc purchased a new position in 908 Devices in the 2nd quarter valued at about $27,000. Allworth Financial LP purchased a new stake in 908 Devices during the 2nd quarter worth approximately $29,000. California State Teachers Retirement System raised its holdings in shares of 908 Devices by 128.3% during the second quarter. California State Teachers Retirement System now owns 3,384 shares of the company’s stock valued at $29,000 after acquiring an additional 1,902 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of 908 Devices during the second quarter valued at approximately $48,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of 908 Devices in the second quarter valued at approximately $61,000. 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.