Meros Investment Management LP Makes New Investment in 908 Devices Inc. $MASS

Meros Investment Management LP bought a new stake in shares of 908 Devices Inc. (NASDAQ:MASS) in the second quarter, Holdings Channel reports. The fund bought 361,368 shares of the company’s stock, valued at approximately $3,143,902,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legal & General Group Plc purchased a new stake in shares of 908 Devices in the second quarter worth about $27,000. Allworth Financial LP purchased a new position in 908 Devices during the second quarter valued at approximately $29,000. Raymond James Financial Inc. bought a new stake in 908 Devices during the 2nd quarter worth approximately $48,000. Intelligence Driven Advisers LLC bought a new stake in 908 Devices during the 1st quarter worth approximately $61,000. Finally, Daiwa Securities Group Inc. purchased a new stake in 908 Devices in the 2nd quarter worth approximately $61,000. 88.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MASS has been the subject of several analyst reports. Stifel Nicolaus raised their price target 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Roth Capital increased their price objective on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen lowered 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

Insiders Place Their Bets

In related news, Director Christopher D. Brown sold 8,358 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $9.23, for a total value of $77,144.34. Following the completion of the transaction, the director directly owned 805,559 shares in the company, valued at approximately $7,435,309.57. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total value of $62,668.20. Following the completion of the transaction, the chief financial officer directly owned 132,956 shares in the company, valued at approximately $1,200,592.68. This represents a 4.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 106,940 shares of company stock valued at $949,714 over the last ninety days. 28.20% of the stock is currently owned by insiders.

908 Devices Price Performance

Shares of 908 Devices stock opened at $11.00 on Wednesday. 908 Devices Inc. has a 1 year low of $5.03 and a 1 year high of $11.25. The firm has a market cap of $454.63 million, a PE ratio of -11.58 and a beta of 0.66. The company has a 50 day simple moving average of $8.64 and a two-hundred day simple moving average of $7.60.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results 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 during 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, research analysts anticipate that 908 Devices Inc. will post -0.8 earnings per share for the current year.

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.