908 Devices (NASDAQ:MASS) Director Sells $19,844.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 2,200 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $9.02, for a total transaction of $19,844.00. Following the transaction, the director directly owned 843,359 shares in the company, valued at $7,607,098.18. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Down 4.2%

Shares of MASS traded down $0.35 during mid-day trading on Tuesday, hitting $8.07. The company’s stock had a trading volume of 296,070 shares, compared to its average volume of 302,396. The company’s 50-day moving average is $8.02 and its 200-day moving average is $6.90. 908 Devices Inc. has a 52-week low of $5.03 and a 52-week high of $9.34. The firm has a market capitalization of $305.13 million, a price-to-earnings ratio of -8.07 and a beta of 0.63.

Institutional Inflows and Outflows

Several 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 135.2% in the third quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock valued at $21,992,000 after buying an additional 1,442,883 shares during the last quarter. Prescott Group Capital Management L.L.C. raised its position in 908 Devices by 90.3% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock worth $1,898,000 after buying an additional 171,590 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new stake in 908 Devices during the 4th quarter valued at approximately $630,000. Meros Investment Management LP boosted its holdings in shares of 908 Devices by 232.7% in the 4th quarter. Meros Investment Management LP now owns 347,035 shares of the company’s stock valued at $1,822,000 after acquiring an additional 242,712 shares during the last quarter. Finally, Needham Investment Management LLC increased its stake in shares of 908 Devices by 246.8% in the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after acquiring an additional 548,000 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MASS. Weiss Ratings downgraded 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of 908 Devices from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.00.

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.