908 Devices (NASDAQ:MASS) Director Sells $317,400.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $10.58, for a total transaction of $317,400.00. Following the completion of the sale, the director owned 775,559 shares in the company, valued at approximately $8,205,414.22. This trade represents a 3.72% decrease in their position. The sale 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 Stock Up 0.1%

Shares of MASS stock traded up $0.01 during trading hours on Friday, hitting $10.05. 201,067 shares of the company’s stock traded hands, compared to its average volume of 329,439. The stock’s fifty day simple moving average is $8.88 and its two-hundred day simple moving average is $7.80. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $11.25. The stock has a market cap of $415.37 million, a price-to-earnings ratio of -10.58 and a beta of 0.68.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%.The company had revenue of $16.07 million for the quarter, compared to the consensus estimate of $15.37 million. On average, equities analysts forecast that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in shares of 908 Devices in the 2nd quarter worth $27,000. Allworth Financial LP bought a new position in shares of 908 Devices in the 2nd quarter worth approximately $29,000. California State Teachers Retirement System boosted its holdings in shares of 908 Devices by 128.3% in the second quarter. California State Teachers Retirement System now owns 3,384 shares of the company’s stock worth $29,000 after buying an additional 1,902 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of 908 Devices in the second quarter worth approximately $48,000. Finally, Daiwa Securities Group Inc. bought a new stake in 908 Devices during the second quarter valued at approximately $61,000. 88.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MASS shares. Roth Capital raised their price target on 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Stifel Nicolaus raised their price objective 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, Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.