Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells $270,000.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of 908 Devices stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.00, for a total value of $270,000.00. Following the transaction, the director owned 895,559 shares of the company’s stock, valued at $8,060,031. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

NASDAQ MASS 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 50-day simple moving average of $7.03 and a two-hundred day simple moving average of $6.44. The firm has a market capitalization of $317.98 million, a P/E ratio of -8.41 and a beta of 0.63.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On 908 Devices

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in 908 Devices in the 2nd quarter worth about $48,000. Intelligence Driven Advisers LLC acquired a new position in shares of 908 Devices during the 1st quarter worth approximately $61,000. Daiwa Securities Group Inc. acquired a new position in shares of 908 Devices during the 2nd quarter worth approximately $61,000. PCM Encore LLC acquired a new position in shares of 908 Devices during the 4th quarter worth approximately $62,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of 908 Devices during the 2nd quarter worth approximately $77,000. 88.06% of the stock is currently 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.