908 Devices (NASDAQ:MASS) CFO Sells $62,668.20 in Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 6,940 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total transaction of $62,668.20. Following the transaction, the chief financial officer owned 132,956 shares of the company’s stock, valued at $1,200,592.68. This trade represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

908 Devices stock opened at $8.41 on Monday. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $9.34. The stock has a market cap of $317.98 million, a P/E ratio of -8.41 and a beta of 0.63. The firm’s fifty day moving average price is $7.03 and its 200-day moving average price is $6.44.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $17.38 million during the quarter, compared to analyst estimates of $16.19 million. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%. Sell-side analysts predict that 908 Devices Inc. will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, 908 Devices has a consensus rating of “Hold” and an average target price of $12.00.

Institutional Investors Weigh In On 908 Devices

A number of large investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its holdings in shares of 908 Devices by 92.6% in the 4th 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 in the last quarter. Granahan Investment Management LLC raised its holdings in shares of 908 Devices by 662.6% during the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after buying an additional 603,929 shares in the last quarter. Needham Investment Management LLC raised its holdings in shares of 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after buying an additional 548,000 shares in the last quarter. Marshall Wace LLP lifted its position in 908 Devices by 359.4% in the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock worth $4,626,000 after buying an additional 507,562 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in 908 Devices by 125.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock worth $5,291,000 after buying an additional 336,584 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.