Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells $174,600.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $8.73, for a total value of $174,600.00. Following the sale, the director directly owned 875,559 shares in the company, valued at $7,643,630.07. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

908 Devices stock opened at $7.93 on Friday. 908 Devices Inc. has a one year low of $5.03 and a one year high of $9.34. The stock has a market capitalization of $299.83 million, a PE ratio of -7.93 and a beta of 0.63. The business’s fifty day moving average is $7.27 and its 200 day moving average is $6.54.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. First Light Asset Management LLC lifted its holdings in 908 Devices by 25.6% in the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock valued at $37,164,000 after acquiring an additional 1,236,377 shares during the period. Intelligence Driven Advisers LLC bought a new position in 908 Devices in the first quarter valued at about $61,000. Granahan Investment Management LLC lifted its holdings in 908 Devices by 662.6% in the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after acquiring an additional 603,929 shares during the period. Renaissance Technologies LLC lifted its holdings in 908 Devices by 3.6% in the first quarter. Renaissance Technologies LLC now owns 230,200 shares of the company’s stock valued at $1,409,000 after acquiring an additional 8,100 shares during the period. Finally, Sei Investments Co. lifted its holdings in 908 Devices by 101.2% in the first quarter. Sei Investments Co. now owns 164,894 shares of the company’s stock valued at $1,009,000 after acquiring an additional 82,934 shares during the period. Institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MASS shares. Wall Street Zen raised 908 Devices from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings cut 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.