John Kenneweg Sells 5,257 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 5,257 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $10.22, for a total value of $53,726.54. Following the transaction, the senior vice president directly owned 57,784 shares in the company, valued at $590,552.48. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The stock was sold at an average price of $10.00, for a total value of $10,000.00.
• On Wednesday, September 16th, John Kenneweg sold 21,399 shares of 908 Devices stock. The shares were sold at an average price of $10.11, for a total value of $216,343.89.

908 Devices Stock Performance

MASS stock opened at $10.53 on Friday. The company has a market cap of $435.20 million, a price-to-earnings ratio of -11.08 and a beta of 0.68. The business’s 50-day moving average is $9.21 and its two-hundred day moving average is $8.04. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $11.25.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $16.07 million during the quarter, compared to analyst estimates of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. Equities analysts predict that 908 Devices Inc. will post -0.8 earnings per share for the current year.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC raised its holdings in 908 Devices by 3.5% during the second quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock valued at $54,660,000 after acquiring an additional 210,241 shares during the period. Gainline Financial Partners LLC bought a new stake in 908 Devices during the 2nd quarter valued at approximately $107,000. AXQ Capital LP bought a new stake in 908 Devices during the 2nd quarter valued at approximately $93,000. Bank of America Corp DE purchased a new position in 908 Devices in the 2nd quarter worth approximately $2,184,000. Finally, AWM Investment Company Inc. purchased a new position in 908 Devices in the 2nd quarter worth approximately $42,454,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

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