908 Devices (NASDAQ:MASS) Director Sells $328,500.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of 908 Devices stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $10.95, for a total transaction of $328,500.00. Following the sale, the director directly owned 775,559 shares in the company, valued at $8,492,371.05. This trade represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

NASDAQ MASS traded up $0.41 on Friday, hitting $10.56. The stock had a trading volume of 332,773 shares, compared to its average volume of 338,203. The firm has a 50-day moving average of $11.20 and a 200-day moving average of $8.46. The company has a market capitalization of $436.49 million, a price-to-earnings ratio of -11.12 and a beta of 0.66. 908 Devices Inc. has a 52-week low of $5.03 and a 52-week high of $13.35.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. The business had revenue of $16.07 million during the quarter, compared to analyst estimates of $15.37 million. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%. As a group, research analysts anticipate that 908 Devices Inc. will post -0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MASS shares. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday. Canaccord Genuity Group assumed coverage on shares of 908 Devices in a research note on Thursday, September 10th. They set a “buy” rating and a $13.50 price objective for the company. Stifel Nicolaus upped their target price on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Roth Capital upped their target price on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.83.

Institutional Trading of 908 Devices

Several institutional investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its stake in shares of 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 purchasing an additional 210,241 shares during the last quarter. BlackRock Inc. bought a new stake in 908 Devices in the 2nd quarter valued at about $16,915,000. Meros Investment Management LP acquired a new position in shares of 908 Devices during the second quarter worth approximately $3,143,902. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in 908 Devices during the second quarter worth $962,000. Finally, Bank of New York Mellon Corp acquired a new position in 908 Devices during the 2nd quarter valued at about $633,000. 88.06% of the stock is currently owned by institutional investors.

About 908 Devices

908 Devices Inc is a Boston-based analytical technology company that develops purpose-built mass spectrometers for use outside traditional laboratory environments. Its instruments are designed to provide rapid chemical and biological analysis in the field, helping users identify unknown substances and make time-sensitive decisions.

The company’s product portfolio includes the MX908 handheld mass spectrometer, which is used to detect and identify chemical threats, explosives, narcotics and other hazardous materials.