908 Devices (NASDAQ:MASS) Director Sells $169,800.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $8.49, for a total value of $169,800.00. Following the completion of the sale, the director owned 823,359 shares of the company’s stock, valued at approximately $6,990,317.91. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Up 7.0%

MASS stock traded up $0.58 during midday trading on Friday, hitting $8.88. The company’s stock had a trading volume of 322,938 shares, compared to its average volume of 299,640. The firm’s 50-day moving average is $8.19 and its 200-day moving average is $7.27. The company has a market cap of $335.75 million, a PE ratio of -8.88 and a beta of 0.66. 908 Devices Inc. has a 12 month low of $5.03 and a 12 month high of $9.34.

Analysts Set New Price Targets

MASS has been the topic of several research reports. Weiss Ratings cut 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Roth Capital started coverage on shares of 908 Devices in a research report on Wednesday, July 29th. They set a “buy” rating and a $11.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.00.

Institutional Inflows and Outflows

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