Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells $169,800.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of 908 Devices stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $8.49, for a total transaction of $169,800.00. Following the transaction, the director directly owned 823,359 shares in the company, valued at $6,990,317.91. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 $8.88 on Monday. The firm has a 50 day simple moving average of $8.20 and a 200-day simple moving average of $7.30. The stock has a market cap of $335.75 million, a price-to-earnings ratio of -8.88 and a beta of 0.66. 908 Devices Inc. has a 1-year low of $5.03 and a 1-year high of $9.34.

Institutional Trading of 908 Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in 908 Devices during the second quarter worth $48,000. Intelligence Driven Advisers LLC purchased a new stake in shares of 908 Devices in the 1st quarter valued at $61,000. Daiwa Securities Group Inc. purchased a new stake in shares of 908 Devices in the 2nd quarter valued at $61,000. PCM Encore LLC acquired a new position in 908 Devices during the 4th quarter worth about $62,000. Finally, The Manufacturers Life Insurance Company acquired a new position in 908 Devices during the 2nd quarter worth about $77,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MASS shares. Roth Capital initiated coverage on 908 Devices in a research note on Wednesday, July 29th. They set a “buy” rating and a $11.00 target price for the company. Weiss Ratings downgraded 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.00.

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.