Christopher Brown Sells 15,030 Shares of 908 Devices (NASDAQ:MASS) Stock
by Danessa Lincoln · The Markets Daily908 Devices Inc. (NASDAQ:MASS – Get Free Report) Director Christopher Brown sold 15,030 shares of 908 Devices stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $7.05, for a total value of $105,961.50. Following the completion of the sale, the director directly owned 970,529 shares of the company’s stock, valued at approximately $6,842,229.45. The trade was a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Stock Performance
Shares of MASS stock traded up $0.18 during mid-day trading on Friday, hitting $7.14. The company’s stock had a trading volume of 244,540 shares, compared to its average volume of 309,954. The stock has a market cap of $266.89 million, a price-to-earnings ratio of 12.98 and a beta of 0.54. 908 Devices Inc. has a 52-week low of $3.79 and a 52-week high of $9.34. The business has a 50-day moving average price of $6.45 and a 200 day moving average price of $6.67.
908 Devices (NASDAQ:MASS – Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.99% and a net margin of 34.68%.The company had revenue of $17.38 million during the quarter, compared to the consensus estimate of $16.19 million. Equities research analysts predict that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of 908 Devices from a “hold” rating to a “buy” rating in a research report 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.
View Our Latest Research Report on MASS
Hedge Funds Weigh In On 908 Devices
A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after purchasing an additional 1,894 shares in the last quarter. Graham Capital Management L.P. increased its position in 908 Devices by 12.9% in the fourth quarter. Graham Capital Management L.P. now owns 20,787 shares of the company’s stock worth $109,000 after buying an additional 2,374 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of 908 Devices in the third quarter worth about $28,000. Cresset Asset Management LLC lifted its position in shares of 908 Devices by 37.1% during the 3rd quarter. Cresset Asset Management LLC now owns 16,100 shares of the company’s stock valued at $141,000 after buying an additional 4,355 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of 908 Devices by 15.4% during the 4th quarter. Barclays PLC now owns 44,528 shares of the company’s stock valued at $234,000 after buying an additional 5,943 shares in the last quarter. 88.06% of the stock is owned by institutional investors.
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.