908 Devices (NASDAQ:MASS) Director Christopher Brown Sells 2,200 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 2,200 shares of 908 Devices stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $9.02, for a total value of $19,844.00. Following the completion of the transaction, the director directly owned 843,359 shares of the company’s stock, valued at $7,607,098.18. This represents a 0.26% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Down 4.2%

Shares of NASDAQ MASS opened at $8.07 on Wednesday. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34. The firm’s 50-day simple moving average is $8.05 and its 200 day simple moving average is $6.92. The company has a market cap of $305.13 million, a price-to-earnings ratio of -8.07 and a beta of 0.63.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Weiss Ratings cut shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of 908 Devices during the second quarter worth approximately $48,000. Daiwa Securities Group Inc. bought a new position in 908 Devices in the second quarter valued at approximately $61,000. Intelligence Driven Advisers LLC acquired a new stake in 908 Devices during the 1st quarter worth $61,000. Russell Investments Group Ltd. acquired a new stake in 908 Devices during the 3rd quarter worth $93,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of 908 Devices during the 2nd quarter valued at $77,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.