Meros Investment Management LP Purchases New Shares in 908 Devices Inc. $MASS

Meros Investment Management LP acquired a new position in shares of 908 Devices Inc. (NASDAQ:MASS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 361,368 shares of the company’s stock, valued at approximately $3,143,902,000. Meros Investment Management LP owned about 0.87% of 908 Devices at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in 908 Devices during the second quarter worth about $27,000. Allworth Financial LP purchased a new position in shares of 908 Devices in the 2nd quarter worth approximately $29,000. PCM Encore LLC bought a new position in shares of 908 Devices in the second quarter valued at approximately $103,000. BlackRock Inc. bought a new position in shares of 908 Devices in the second quarter valued at approximately $16,915,000. Finally, Deutsche Bank AG purchased a new stake in shares of 908 Devices during the second quarter valued at approximately $247,000. Institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen cut 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Roth Capital raised their target price on 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Stifel Nicolaus lifted their target price on 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.50.

Insider Transactions at 908 Devices

In other news, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.03, for a total value of $62,668.20. Following the completion of the transaction, the chief financial officer owned 132,956 shares in the company, valued at $1,200,592.68. This trade represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $270,000.00. Following the completion of the sale, the director directly owned 895,559 shares in the company, valued at approximately $8,060,031. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 106,940 shares of company stock valued at $949,714 in the last quarter. Company insiders own 28.20% of the company’s stock.

908 Devices Price Performance

Shares of MASS opened at $11.00 on Wednesday. The firm has a market cap of $454.63 million, a PE ratio of -11.58 and a beta of 0.66. The stock’s fifty day moving average price is $8.64 and its two-hundred day moving average price is $7.60. 908 Devices Inc. has a 1 year low of $5.03 and a 1 year high of $11.25.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%.The company had revenue of $16.07 million during the quarter, compared to analyst estimates of $15.37 million. Sell-side analysts anticipate that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

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.