Kevin Mccallion Sells 5,420 Shares of 908 Devices (NASDAQ:MASS) Stock
by Renee Jackson · The Cerbat Gem908 Devices Inc. (NASDAQ:MASS – Get Free Report) SVP Kevin Mccallion sold 5,420 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $7.03, for a total transaction of $38,102.60. Following the completion of the transaction, the senior vice president owned 44,925 shares of the company’s stock, valued at approximately $315,822.75. This represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 MASS traded up $0.18 during trading hours on Friday, hitting $7.14. The stock had a trading volume of 244,540 shares, compared to its average volume of 254,609. The firm has a 50-day moving average price of $6.47 and a 200 day moving average price of $6.67. 908 Devices Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $9.34. The firm has a market capitalization of $266.89 million, a price-to-earnings ratio of 12.98 and a beta of 0.54.
908 Devices (NASDAQ:MASS – Get Free Report) last posted its earnings results 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. 908 Devices had a net margin of 34.68% and a negative return on equity of 14.99%. The firm had revenue of $17.38 million during the quarter, compared to analysts’ expectations of $16.19 million. As a group, analysts predict that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
MASS has been the subject of several analyst reports. Wall Street Zen upgraded shares of 908 Devices from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.00.
Check Out Our Latest Analysis on 908 Devices
Hedge Funds Weigh In On 908 Devices
A number of large investors have recently added to or reduced their stakes in MASS. First Light Asset Management LLC raised its position in 908 Devices by 92.6% during the fourth quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company’s stock worth $25,390,000 after acquiring an additional 2,325,690 shares during the period. Needham Investment Management LLC raised its position in 908 Devices by 246.8% during the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after acquiring an additional 548,000 shares during the period. Marshall Wace LLP raised its position in 908 Devices by 359.4% during the second quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock worth $4,626,000 after acquiring an additional 507,562 shares during the period. First Eagle Investment Management LLC raised its position in 908 Devices by 125.9% during the third quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock worth $5,291,000 after acquiring an additional 336,584 shares during the period. Finally, Bank of America Corp DE raised its position in 908 Devices by 221.7% during the second quarter. Bank of America Corp DE now owns 363,217 shares of the company’s stock worth $2,590,000 after acquiring an additional 250,311 shares during the period. 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.