Christopher Brown Sells 30,000 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $270,000.00. Following the sale, the director owned 895,559 shares of the company’s stock, valued at approximately $8,060,031. The trade was a 3.24% 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.

908 Devices Price Performance

NASDAQ MASS traded down $0.52 during trading on Friday, hitting $8.41. 336,962 shares of the company’s stock traded hands, compared to its average volume of 297,617. The stock has a fifty day moving average of $6.98 and a two-hundred day moving average of $6.43. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34. The firm has a market cap of $317.98 million, a P/E ratio of -8.41 and a beta of 0.57.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative net margin of 62.40% and a negative return on equity of 14.03%. The business had revenue of $17.38 million during the quarter, compared to analyst estimates of $16.19 million. As a group, analysts expect that 908 Devices Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings lowered shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.00.

Hedge Funds Weigh In On 908 Devices

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of 908 Devices during the second quarter valued at about $48,000. Intelligence Driven Advisers LLC bought a new position in shares of 908 Devices during the first quarter valued at about $61,000. Daiwa Securities Group Inc. bought a new position in shares of 908 Devices during the second quarter valued at about $61,000. PCM Encore LLC bought a new position in shares of 908 Devices during the fourth quarter valued at about $62,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of 908 Devices during the second quarter valued at about $77,000. 88.06% of the stock is owned by institutional investors.

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.