Insider Selling: 908 Devices (NASDAQ:MASS) SVP Sells $216,343.89 in Stock

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 21,399 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $10.11, for a total transaction of $216,343.89. Following the completion of the transaction, the senior vice president owned 57,784 shares in the company, valued at $584,196.24. The trade was a 27.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Kenneweg also recently made the following trade(s):

• On Thursday, September 17th, John Kenneweg sold 5,257 shares of 908 Devices stock. The stock was sold at an average price of $10.22, for a total transaction of $53,726.54.
• On Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The shares were sold at an average price of $10.00, for a total transaction of $10,000.00.

908 Devices Price Performance

MASS traded up $1.06 during trading hours on Thursday, reaching $10.98. The company’s stock had a trading volume of 689,788 shares, compared to its average volume of 328,921. The stock has a market cap of $453.80 million, a PE ratio of -11.56 and a beta of 0.68. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $11.25. The business’s 50-day moving average is $9.11 and its 200-day moving average is $7.99.

908 Devices (NASDAQ:MASS) last posted its earnings results 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 12.54% and a negative net margin of 56.96%.The company had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $15.37 million. Analysts expect that 908 Devices Inc. will post -0.8 EPS for the current year.

Institutional Investors Weigh In On 908 Devices

Hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC boosted its position in 908 Devices by 3.5% in the 2nd quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock valued at $54,660,000 after buying an additional 210,241 shares during the period. Gainline Financial Partners LLC acquired a new stake in shares of 908 Devices in the second quarter valued at $107,000. AXQ Capital LP acquired a new stake in shares of 908 Devices in the second quarter valued at $93,000. Bank of America Corp DE purchased a new position in 908 Devices in the second quarter valued at $2,184,000. Finally, AWM Investment Company Inc. purchased a new position in 908 Devices in the second quarter valued at $42,454,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MASS has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Stifel Nicolaus lifted their price target on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Roth Capital boosted their price target on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group began coverage on shares of 908 Devices in a report on Thursday, September 10th. They issued a “buy” rating and a $13.50 price objective on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, 908 Devices presently has an average rating of “Moderate Buy” and an average price target of $12.83.

About 908 Devices

908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company’s technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.

Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.