Prescott Group Capital Management L.L.C. Buys 171,590 Shares of 908 Devices Inc. $MASS

Prescott Group Capital Management L.L.C. grew its stake in 908 Devices Inc. (NASDAQ:MASS) by 90.3% during the 4th quarter, HoldingsChannel reports. The fund owned 361,595 shares of the company’s stock after purchasing an additional 171,590 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in 908 Devices were worth $1,898,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MASS. Raymond James Financial Inc. bought a new stake in 908 Devices in the second quarter worth $48,000. Daiwa Securities Group Inc. purchased a new position in shares of 908 Devices in the second quarter worth $61,000. The Manufacturers Life Insurance Company purchased a new position in shares of 908 Devices in the second quarter worth $77,000. Walleye Capital LLC purchased a new position in shares of 908 Devices in the second quarter worth $82,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of 908 Devices in the third quarter worth $93,000. 88.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

908 Devices Price Performance

MASS stock opened at $6.98 on Thursday. 908 Devices Inc. has a 1-year low of $4.47 and a 1-year high of $9.34. The business has a fifty day moving average price of $6.79 and a 200-day moving average price of $6.43. The stock has a market capitalization of $263.94 million, a P/E ratio of -6.98 and a beta of 0.57.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $17.38 million during the quarter, compared to analysts’ expectations of $16.19 million. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%. As a group, analysts anticipate that 908 Devices Inc. will post -0.38 earnings per share for the current year.

Insider Activity at 908 Devices

In related news, Director Christopher D. Brown sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was 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 in the company, valued at approximately $6,691,791.57. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $6.83, for a total value of $53,185.21. Following the sale, the senior vice president owned 76,039 shares of the company’s stock, valued at approximately $519,346.37. This trade represents a 9.29% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 94,480 shares of company stock worth $668,032. 28.20% of the stock is 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.