Insider Selling: 908 Devices (NASDAQ:MASS) CFO Sells 6,940 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 6,940 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total transaction of $62,668.20. Following the completion of the transaction, the chief financial officer owned 132,956 shares in the company, valued at $1,200,592.68. The trade was a 4.96% decrease in their position. The transaction was disclosed in a document filed 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 Price Performance

NASDAQ MASS traded down $0.52 during mid-day trading on Friday, hitting $8.41. The company’s stock had a trading volume of 336,962 shares, compared to its average volume of 297,617. 908 Devices Inc. has a 52-week low of $5.03 and a 52-week high of $9.34. The stock’s fifty day simple moving average is $6.98 and its two-hundred day simple moving average is $6.43. The firm has a market capitalization 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) 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 firm had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. On average, equities analysts forecast that 908 Devices Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of 908 Devices

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of 908 Devices during the second quarter valued at approximately $48,000. Intelligence Driven Advisers LLC purchased a new stake in shares of 908 Devices during the first quarter valued at approximately $61,000. Daiwa Securities Group Inc. purchased a new stake in shares of 908 Devices during the second quarter valued at approximately $61,000. PCM Encore LLC purchased a new stake in shares of 908 Devices during the fourth quarter valued at approximately $62,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of 908 Devices during the second quarter valued at approximately $77,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.