Christopher Brown Sells 20,000 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $7.23, for a total transaction of $144,600.00. Following the completion of the sale, the director owned 925,559 shares of the company’s stock, valued at approximately $6,691,791.57. The trade was a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Up 1.1%

Shares of NASDAQ:MASS opened at $8.17 on Friday. The company has a market cap of $308.91 million, a P/E ratio of -8.17 and a beta of 0.57. 908 Devices Inc. has a 52 week low of $4.20 and a 52 week high of $9.34. The company has a 50-day moving average price of $6.66 and a 200 day moving average price of $6.49.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $17.38 million during the quarter, compared to the consensus estimate of $16.19 million. Analysts expect that 908 Devices Inc. will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new stake in shares of 908 Devices during the third quarter worth $28,000. Raymond James Financial Inc. acquired a new stake in shares of 908 Devices during the second quarter worth $48,000. Daiwa Securities Group Inc. acquired a new stake in shares of 908 Devices during the second quarter worth $61,000. Russell Investments Group Ltd. acquired a new stake in shares of 908 Devices during the third quarter worth $93,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of 908 Devices during the second quarter worth $77,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MASS has been the subject of a number of research reports. Wall Street Zen downgraded shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded shares of 908 Devices from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.00.

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.