908 Devices Inc. $MASS Stock Position Raised by First Light Asset Management LLC

First Light Asset Management LLC lifted its position in 908 Devices Inc. (NASDAQ:MASS) by 135.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,510,496 shares of the company’s stock after buying an additional 1,442,883 shares during the quarter. 908 Devices comprises 2.1% of First Light Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. First Light Asset Management LLC owned 6.94% of 908 Devices worth $21,992,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GM Advisory Group LLC bought a new position in 908 Devices during the second quarter valued at approximately $8,309,000. Geode Capital Management LLC raised its holdings 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 buying an additional 68,764 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of 908 Devices by 359.4% during the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock worth $4,626,000 after acquiring an additional 507,562 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of 908 Devices by 125.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock worth $5,291,000 after acquiring an additional 336,584 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in shares of 908 Devices by 3.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 493,949 shares of the company’s stock valued at $4,327,000 after acquiring an additional 16,607 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MASS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday, January 21st. Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a research report on Saturday. 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 stock has an average rating of “Hold” and an average target price of $12.00.

908 Devices Stock Up 1.0%

Shares of NASDAQ:MASS opened at $6.07 on Monday. The business has a 50 day moving average price of $6.32 and a 200 day moving average price of $6.64. 908 Devices Inc. has a twelve month low of $3.55 and a twelve month high of $9.34. The company has a market cap of $226.90 million, a price-to-earnings ratio of 11.04 and a beta of 0.47.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.99% and a net margin of 34.68%.The company had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. Analysts anticipate that 908 Devices Inc. will post -1.99 EPS for the current year.

Insider Buying and Selling

In related news, CFO Joseph H. Iv Griffith sold 23,175 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $6.18, for a total transaction of $143,221.50. Following the completion of the transaction, the chief financial officer directly owned 139,896 shares in the company, valued at $864,557.28. This represents a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.70% of the stock is currently owned by insiders.

908 Devices 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.