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

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $8.49, for a total value of $169,800.00. Following the completion of the transaction, the director owned 823,359 shares of the company’s stock, valued at $6,990,317.91. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Up 7.0%

Shares of MASS opened at $8.88 on Friday. The business’s 50-day moving average price is $8.20 and its 200 day moving average price is $7.28. The stock has a market capitalization of $335.75 million, a P/E ratio of -8.88 and a beta of 0.66. 908 Devices Inc. has a 1-year low of $5.03 and a 1-year high of $9.34.

Institutional Trading of 908 Devices

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in 908 Devices during the first quarter valued at approximately $365,000. Geode Capital Management LLC lifted its position in 908 Devices by 11.7% in the 2nd quarter. Geode Capital Management LLC now owns 658,603 shares of the company’s stock worth $4,697,000 after buying an additional 68,764 shares in the last quarter. Rhumbline Advisers lifted its position in 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock worth $260,000 after buying an additional 1,894 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of 908 Devices by 22.9% during the 2nd quarter. American Century Companies Inc. now owns 56,296 shares of the company’s stock valued at $401,000 after buying an additional 10,482 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of 908 Devices during the 2nd quarter valued at $82,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MASS shares. Roth Capital initiated coverage on shares of 908 Devices in a research report on Wednesday, July 29th. They issued a “buy” rating and a $11.00 target price on the stock. Weiss Ratings downgraded shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.00.

908 Devices Company Profile

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.