Michael S. Turner Sells 16,082 Shares of 908 Devices Inc. (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) insider Michael S. Turner sold 16,082 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the transaction, the insider now directly owns 8,521 shares of the company’s stock, valued at approximately $63,992.71. This represents a 65.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 Trading Up 8.4%

Shares of 908 Devices stock opened at $7.97 on Thursday. The business’s fifty day moving average price is $5.58 and its 200 day moving average price is $3.79. 908 Devices Inc. has a twelve month low of $1.81 and a twelve month high of $8.03. The stock has a market capitalization of $285.81 million, a P/E ratio of -14.76 and a beta of 0.29.

908 Devices (NASDAQ:MASS) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $11.78 million for the quarter, compared to the consensus estimate of $11.90 million. 908 Devices had a negative return on equity of 27.10% and a negative net margin of 28.80%. As a group, sell-side analysts predict that 908 Devices Inc. will post -1.99 EPS for the current year.

Institutional Trading of 908 Devices

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in 908 Devices by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company’s stock valued at $233,000 after buying an additional 1,985 shares in the last quarter. American Century Companies Inc. raised its stake in shares of 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 acquiring an additional 4,471 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of 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 acquiring an additional 5,112 shares in the last quarter. CWM LLC boosted its position in 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company’s stock worth $31,000 after purchasing an additional 5,877 shares during the period. Finally, LPL Financial LLC boosted its position in 908 Devices by 13.0% during the 4th quarter. LPL Financial LLC now owns 63,287 shares of the company’s stock worth $139,000 after purchasing an additional 7,295 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday, June 11th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, 908 Devices has a consensus 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.