Christopher Brown Sells 8,358 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 8,358 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $9.23, for a total value of $77,144.34. Following the completion of the sale, the director owned 805,559 shares in the company, valued at $7,435,309.57. The trade was a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Up 0.9%

Shares of NASDAQ:MASS opened at $10.11 on Friday. The stock has a fifty day simple moving average of $8.28 and a two-hundred day simple moving average of $7.38. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $10.52. The stock has a market capitalization of $417.85 million, a price-to-earnings ratio of -10.64 and a beta of 0.66.

908 Devices (NASDAQ:MASS) last released its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.29% and a negative net margin of 56.96%.The firm had revenue of $16.07 million for the quarter, compared to analysts’ expectations of $15.37 million. As a group, equities research analysts predict that 908 Devices Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

MASS has been the subject of a number of analyst reports. Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Stifel Nicolaus raised their price target on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Roth Capital boosted their price objective on shares of 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

Hedge Funds Weigh In On 908 Devices

A number of hedge funds have recently bought and sold shares of MASS. AQR Capital Management LLC purchased a new stake in shares of 908 Devices during the 1st quarter valued at about $365,000. Geode Capital Management LLC lifted its position in 908 Devices by 11.7% during the second quarter. Geode Capital Management LLC now owns 658,603 shares of the company’s stock valued at $4,697,000 after purchasing an additional 68,764 shares during the period. Rhumbline Advisers boosted its holdings in 908 Devices by 5.5% in the second quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock worth $260,000 after purchasing an additional 1,894 shares during the last quarter. American Century Companies Inc. grew its position in 908 Devices by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 56,296 shares of the company’s stock worth $401,000 after purchasing an additional 10,482 shares during the period. Finally, Walleye Capital LLC bought a new stake in 908 Devices in the 2nd quarter worth approximately $82,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.