Christopher Brown Sells 9,900 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 9,900 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $9.04, for a total transaction of $89,496.00. Following the transaction, the director directly owned 865,559 shares in the company, valued at $7,824,653.36. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

Shares of NASDAQ:MASS opened at $8.79 on Friday. The company has a 50-day simple moving average of $7.84 and a 200-day simple moving average of $6.79. 908 Devices Inc. has a one year low of $5.03 and a one year high of $9.34. The stock has a market capitalization of $332.54 million, a price-to-earnings ratio of -8.79 and a beta of 0.63.

Wall Street Analysts Forecast Growth

MASS has been the subject of a number of recent research reports. Weiss Ratings cut 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen raised 908 Devices from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Hedge Funds Weigh In On 908 Devices

A number of large investors have recently modified their holdings of MASS. Raymond James Financial Inc. purchased a new stake in shares of 908 Devices in the second quarter valued at approximately $48,000. Daiwa Securities Group Inc. purchased a new position in 908 Devices in the second quarter worth $61,000. Intelligence Driven Advisers LLC acquired a new stake in 908 Devices in the first quarter valued at $61,000. Russell Investments Group Ltd. acquired a new stake in 908 Devices in the third quarter valued at $93,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of 908 Devices during the 2nd quarter worth $77,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.