908 Devices (NASDAQ:MASS) SVP John Kenneweg Sells 7,787 Shares

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 7,787 shares of 908 Devices stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.83, for a total transaction of $53,185.21. Following the transaction, the senior vice president directly owned 76,039 shares in the company, valued at approximately $519,346.37. This represents a 9.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

908 Devices Stock Performance

Shares of 908 Devices stock traded down $0.26 during mid-day trading on Monday, hitting $6.55. 252,238 shares of the stock were exchanged, compared to its average volume of 294,883. The company has a market capitalization of $245.30 million, a P/E ratio of 11.91 and a beta of 0.57. 908 Devices Inc. has a 12 month low of $4.20 and a 12 month high of $9.34. The company has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $6.51.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. 908 Devices had a net margin of 34.68% and a negative return on equity of 14.99%. Analysts predict that 908 Devices Inc. will post -0.41 EPS for the current year.

Institutional Trading of 908 Devices

Hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC bought a new stake in shares of 908 Devices in the third quarter valued at approximately $28,000. Raymond James Financial Inc. bought a new stake in shares of 908 Devices in the second quarter valued at approximately $48,000. Daiwa Securities Group Inc. bought a new stake in shares of 908 Devices in the second quarter valued at approximately $61,000. PCM Encore LLC bought a new stake in shares of 908 Devices in the fourth quarter valued at approximately $62,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of 908 Devices in the second quarter valued at approximately $77,000. Institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MASS. Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings raised shares of 908 Devices from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.00.

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.