908 Devices (NASDAQ:MASS) Director Christopher Brown Sells 20,000 Shares of Stock

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

908 Devices Trading Up 1.8%

Shares of MASS stock opened at $8.82 on Friday. The business’s fifty day simple moving average is $7.24 and its 200-day simple moving average is $6.53. The company has a market cap of $333.48 million, a PE ratio of -8.82 and a beta of 0.63. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%. On average, equities analysts forecast that 908 Devices Inc. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MASS. Weiss Ratings downgraded 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.00.

Institutional Investors Weigh In On 908 Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in 908 Devices during the 2nd quarter worth about $48,000. Daiwa Securities Group Inc. acquired a new stake in 908 Devices during the 2nd quarter worth about $61,000. Intelligence Driven Advisers LLC acquired a new stake in 908 Devices during the 1st quarter worth about $61,000. Russell Investments Group Ltd. acquired a new stake in 908 Devices during the 3rd quarter worth about $93,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in 908 Devices during the 2nd quarter worth about $77,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.