Insider Selling: 908 Devices Inc. (NASDAQ:MASS) Insider Sells 7,148 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) insider Michael S. Turner sold 7,148 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total transaction of $53,681.48. Following the sale, the insider now directly owns 1,373 shares in the company, valued at approximately $10,311.23. The trade was a 83.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Michael S. Turner also recently made the following trade(s):

• On Wednesday, June 18th, Michael S. Turner sold 1,373 shares of 908 Devices stock. The stock was sold at an average price of $7.50, for a total transaction of $10,297.50.

908 Devices Stock Up 8.4%

MASS stock opened at $7.97 on Thursday. The firm has a market cap of $285.81 million, a price-to-earnings ratio of -14.76 and a beta of 0.29. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $8.03. The company’s fifty day simple moving average is $5.58 and its 200 day simple moving average is $3.79.

908 Devices (NASDAQ:MASS) last released its earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. The business had revenue of $11.78 million for the quarter, compared to analyst estimates of $11.90 million. 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. Research analysts expect that 908 Devices Inc. will post -1.99 earnings per share for the current year.

Hedge Funds Weigh In On 908 Devices

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in 908 Devices in the 1st quarter valued at about $365,000. AWM Investment Company Inc. increased its stake in shares of 908 Devices by 210.6% during the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company’s stock worth $23,296,000 after purchasing an additional 3,526,000 shares during the last quarter. First Light Asset Management LLC purchased a new stake in shares of 908 Devices during the 1st quarter worth approximately $7,621,000. PDT Partners LLC purchased a new stake in shares of 908 Devices during the 1st quarter worth approximately $186,000. Finally, American Century Companies Inc. grew its stake in 908 Devices by 10.8% in the 1st quarter. American Century Companies Inc. now owns 45,814 shares of the company’s stock valued at $205,000 after buying an additional 4,471 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $5.33.

908 Devices Company Profile

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.