Insider Selling: 908 Devices (NASDAQ:MASS) CFO Sells $125,476.05 in Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 11,459 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total value of $125,476.05. Following the sale, the chief financial officer owned 121,497 shares in the company, valued at $1,330,392.15. The trade was a 8.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Up 7.0%

Shares of MASS traded up $0.73 during mid-day trading on Thursday, hitting $11.10. 502,200 shares of the company traded hands, compared to its average volume of 327,459. 908 Devices Inc. has a 1-year low of $5.03 and a 1-year high of $11.25. The company has a market capitalization of $458.81 million, a PE ratio of -11.68 and a beta of 0.66. The business has a 50 day moving average of $8.67 and a 200 day moving average of $7.63.

908 Devices (NASDAQ:MASS) last released its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. The company had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. As a group, research analysts expect that 908 Devices Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MASS shares. Stifel Nicolaus boosted their price objective on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Roth Capital raised their target price on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen cut 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research note 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 stock currently has a consensus rating of “Hold” and an average target price of $12.50.

Institutional Trading of 908 Devices

Several institutional investors and hedge funds have recently bought and sold shares of MASS. AWM Investment Company Inc. acquired a new position in 908 Devices during the second quarter valued at $42,454,000. First Light Asset Management LLC grew its position in 908 Devices by 92.6% during the 4th quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company’s stock worth $25,390,000 after purchasing an additional 2,325,690 shares during the period. BlackRock Inc. acquired a new stake in 908 Devices during the 2nd quarter worth about $16,915,000. Granahan Investment Management LLC raised its stake in shares of 908 Devices by 662.6% during the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after buying an additional 603,929 shares during the last quarter. Finally, Needham Investment Management LLC raised its stake in shares of 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after buying an additional 548,000 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.