Insider Selling: 908 Devices (NASDAQ:MASS) SVP Sells 21,399 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 21,399 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $10.11, for a total value of $216,343.89. Following the completion of the sale, the senior vice president owned 57,784 shares in the company, valued at $584,196.24. The trade was a 27.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Kenneweg also recently made the following trade(s):

• On Thursday, September 17th, John Kenneweg sold 5,257 shares of 908 Devices stock. The stock was sold at an average price of $10.22, for a total transaction of $53,726.54.
• On Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The stock was sold at an average price of $10.00, for a total transaction of $10,000.00.

908 Devices Trading Up 10.7%

MASS traded up $1.06 on Thursday, reaching $10.98. The stock had a trading volume of 689,788 shares, compared to its average volume of 328,921. The business’s 50-day moving average price is $9.11 and its two-hundred day moving average price is $7.99. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $11.25. The company has a market cap of $453.80 million, a P/E ratio of -11.56 and a beta of 0.68.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share 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 during the quarter, compared to analysts’ expectations of $15.37 million. As a group, analysts predict that 908 Devices Inc. will post -0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MASS shares. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Stifel Nicolaus boosted their target price on shares of 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Canaccord Genuity Group initiated coverage on 908 Devices in a report on Thursday, September 10th. They issued a “buy” rating and a $13.50 price objective on the stock. Finally, Roth Capital boosted their price objective on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, 908 Devices has an average rating of “Moderate Buy” and an average target price of $12.83.

Hedge Funds Weigh In On 908 Devices

Institutional investors have recently added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. grew its holdings in 908 Devices by 90.3% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock valued at $1,898,000 after buying an additional 171,590 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of 908 Devices in the 2nd quarter worth $16,915,000. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of 908 Devices during the 4th quarter worth $630,000. First Light Asset Management LLC raised its holdings in shares of 908 Devices by 25.6% during the 1st quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock worth $37,164,000 after acquiring an additional 1,236,377 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of 908 Devices during the 2nd quarter valued at about $962,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

About 908 Devices

908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company’s technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.

Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.