908 Devices (NASDAQ:MASS) Director Christopher Brown Sells 30,000 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.00, for a total value of $270,000.00. Following the completion of the transaction, the director owned 895,559 shares of the company’s stock, valued at approximately $8,060,031. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Down 5.8%

MASS opened at $8.41 on Friday. The stock has a fifty day simple moving average of $7.03 and a two-hundred day simple moving average of $6.44. The company has a market cap of $317.98 million, a price-to-earnings ratio of -8.41 and a beta of 0.57. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34.

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

Institutional Investors Weigh In On 908 Devices

Institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its stake in shares of 908 Devices by 125.9% in the third 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 during the last quarter. First Light Asset Management LLC grew its stake in shares of 908 Devices by 135.2% in the third quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock worth $21,992,000 after acquiring an additional 1,442,883 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its stake in shares of 908 Devices by 90.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock worth $1,898,000 after acquiring an additional 171,590 shares during the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of 908 Devices in the fourth quarter worth $630,000. Finally, HighMark Wealth Management LLC purchased a new stake in shares of 908 Devices in the fourth quarter worth $1,265,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MASS. Wall Street Zen downgraded 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” 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.