908 Devices (NASDAQ:MASS) CFO Sells $125,476.05 in Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 11,459 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total transaction of $125,476.05. Following the completion of the sale, the chief financial officer owned 121,497 shares of the company’s stock, valued at $1,330,392.15. This trade represents a 8.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

Shares of NASDAQ MASS opened at $10.73 on Friday. The firm has a market capitalization of $443.47 million, a P/E ratio of -11.29 and a beta of 0.66. 908 Devices Inc. has a one year low of $5.03 and a one year high of $11.25. The company’s fifty day moving average is $8.76 and its two-hundred day moving average is $7.69.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. The business had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $15.37 million. On average, sell-side analysts forecast that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of 908 Devices

A number of hedge funds have recently made changes to their positions in MASS. AWM Investment Company Inc. acquired a new stake in shares of 908 Devices during the 2nd quarter valued at approximately $42,454,000. First Light Asset Management LLC boosted its holdings in 908 Devices by 92.6% in the fourth quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company’s stock worth $25,390,000 after purchasing an additional 2,325,690 shares during the period. BlackRock Inc. acquired a new position in 908 Devices in the second quarter worth $16,915,000. Granahan Investment Management LLC boosted its holdings in 908 Devices by 662.6% in the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock worth $4,254,000 after purchasing an additional 603,929 shares during the period. Finally, Needham Investment Management LLC increased its stake in 908 Devices by 246.8% during the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after purchasing an additional 548,000 shares during the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Wall Street Zen upgraded 908 Devices from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Roth Capital boosted their price target on 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.