Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells $328,500.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $10.95, for a total value of $328,500.00. Following the completion of the transaction, the director directly owned 775,559 shares of the company’s stock, valued at approximately $8,492,371.05. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

NASDAQ:MASS opened at $10.56 on Monday. The stock has a 50-day moving average price of $11.19 and a 200 day moving average price of $8.48. The stock has a market capitalization of $436.49 million, a P/E ratio of -11.12 and a beta of 0.66. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $13.35.

908 Devices (NASDAQ:MASS) last posted its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $15.37 million. On average, research analysts predict that 908 Devices Inc. will post -0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Light Asset Management LLC raised its position in shares of 908 Devices by 3.5% during the 2nd quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock valued at $54,660,000 after buying an additional 210,241 shares in the last quarter. AWM Investment Company Inc. purchased a new position in 908 Devices in the second quarter worth about $42,454,000. BlackRock Inc. bought a new stake in 908 Devices during the second quarter worth approximately $16,915,000. Granahan Investment Management LLC increased its stake in 908 Devices by 662.6% during the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock worth $4,254,000 after acquiring an additional 603,929 shares during the last quarter. Finally, Meros Investment Management LP purchased a new stake in 908 Devices during the second quarter valued at approximately $3,143,902. 88.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MASS has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Roth Capital increased their price objective on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Canaccord Genuity Group assumed coverage on shares of 908 Devices in a report on Thursday, September 10th. They set a “buy” rating and a $13.50 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, 908 Devices presently has an average rating of “Moderate Buy” and a consensus price target of $12.83.

About 908 Devices

908 Devices Inc is a Boston-based analytical technology company that develops purpose-built mass spectrometers for use outside traditional laboratory environments. Its instruments are designed to provide rapid chemical and biological analysis in the field, helping users identify unknown substances and make time-sensitive decisions.

The company’s product portfolio includes the MX908 handheld mass spectrometer, which is used to detect and identify chemical threats, explosives, narcotics and other hazardous materials.