Meros Investment Management LP Increases Stake in 908 Devices Inc. $MASS

Meros Investment Management LP lifted its stake in shares of 908 Devices Inc. (NASDAQ:MASS) by 232.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 347,035 shares of the company’s stock after buying an additional 242,712 shares during the quarter. Meros Investment Management LP’s holdings in 908 Devices were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Eagle Investment Management LLC increased its position in shares of 908 Devices by 125.9% during the third quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock valued at $5,291,000 after buying an additional 336,584 shares during the period. First Light Asset Management LLC increased its position in shares of 908 Devices by 135.2% during the third quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock valued at $21,992,000 after buying an additional 1,442,883 shares during the period. Prescott Group Capital Management L.L.C. increased its position in shares of 908 Devices by 90.3% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock valued at $1,898,000 after buying an additional 171,590 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of 908 Devices during the fourth quarter valued at about $630,000. Finally, HighMark Wealth Management LLC purchased a new position in shares of 908 Devices during the fourth quarter valued at about $1,265,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MASS. Weiss Ratings cut shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Sunday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

908 Devices Stock Performance

Shares of MASS opened at $8.62 on Tuesday. The stock has a market cap of $325.92 million, a PE ratio of -8.62 and a beta of 0.63. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $9.34. The firm’s 50-day simple moving average is $7.52 and its two-hundred day simple moving average is $6.64.

Insider Buying and Selling at 908 Devices

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 6,940 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.03, for a total value of $62,668.20. Following the sale, the chief financial officer owned 132,956 shares in the company, valued at approximately $1,200,592.68. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Kevin J. Mccallion sold 5,420 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $7.03, for a total transaction of $38,102.60. Following the completion of the sale, the senior vice president owned 44,925 shares in the company, valued at approximately $315,822.75. This trade represents a 10.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,520 shares of company stock worth $1,176,201 in the last ninety days. 28.20% of the stock is owned by company insiders.

908 Devices 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.