Joseph Iv Griffith Sells 6,940 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $9.03, for a total transaction of $62,668.20. Following the transaction, the chief financial officer directly owned 132,956 shares in the company, valued at $1,200,592.68. The trade was a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

908 Devices stock opened at $8.41 on Friday. The company’s 50 day simple moving average is $7.03 and its 200 day simple moving average is $6.44. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $9.34. The firm has a market capitalization of $317.98 million, a price-to-earnings ratio of -8.41 and a beta of 0.57.

908 Devices (NASDAQ:MASS) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. As a group, analysts predict that 908 Devices Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of 908 Devices in the second quarter valued at approximately $48,000. Intelligence Driven Advisers LLC acquired a new position in shares of 908 Devices in the first quarter valued at approximately $61,000. Daiwa Securities Group Inc. acquired a new position in shares of 908 Devices in the second quarter valued at approximately $61,000. PCM Encore LLC acquired a new position in shares of 908 Devices in the fourth quarter valued at approximately $62,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of 908 Devices in the second quarter valued at approximately $77,000. Institutional investors and hedge funds 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.