908 Devices Inc. (NASDAQ:MASS) Director Acquires $42,900.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Mark Spoto purchased 10,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $4.29 per share, with a total value of $42,900.00. Following the acquisition, the director now owns 62,971 shares in the company, valued at approximately $270,145.59. This represents a 18.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

908 Devices Stock Up 1.3%

908 Devices stock opened at $4.58 on Friday. 908 Devices Inc. has a 12 month low of $1.81 and a 12 month high of $7.03. The business has a 50 day moving average price of $4.60 and a two-hundred day moving average price of $3.27. The stock has a market cap of $163.69 million, a price-to-earnings ratio of -2.59 and a beta of 0.26.

908 Devices (NASDAQ:MASS) last issued its earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. 908 Devices had a negative return on equity of 24.60% and a negative net margin of 109.11%. The business had revenue of $11.78 million during the quarter, compared to analysts’ expectations of $11.90 million. On average, analysts expect that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 908 Devices

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of 908 Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 581,300 shares of the company’s stock worth $1,279,000 after buying an additional 13,512 shares in the last quarter. Barclays PLC increased its holdings in 908 Devices by 452.7% during the 3rd quarter. Barclays PLC now owns 46,214 shares of the company’s stock valued at $160,000 after purchasing an additional 37,853 shares in the last quarter. Hsbc Holdings PLC increased its holdings in 908 Devices by 32.2% during the 4th quarter. Hsbc Holdings PLC now owns 21,007 shares of the company’s stock valued at $46,000 after purchasing an additional 5,112 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in 908 Devices during the 4th quarter valued at $52,000. Finally, Prudential Financial Inc. acquired a new stake in 908 Devices during the 4th quarter valued at $34,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a report on Saturday, May 10th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, 908 Devices has an average rating of “Moderate Buy” and a consensus price target of $5.33.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.