908 Devices Inc. (NASDAQ:MASS) Insider Michael S. Turner Sells 7,148 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) insider Michael S. Turner sold 7,148 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total transaction of $53,681.48. Following the transaction, the insider now owns 1,373 shares in the company, valued at approximately $10,311.23. The trade was a 83.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael S. Turner also recently made the following trade(s):

• On Wednesday, June 18th, Michael S. Turner sold 1,373 shares of 908 Devices stock. The stock was sold at an average price of $7.50, for a total transaction of $10,297.50.

908 Devices Stock Up 8.4%

Shares of NASDAQ:MASS opened at $7.97 on Thursday. The company’s 50 day moving average price is $5.58 and its two-hundred day moving average price is $3.79. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $8.03. The firm has a market cap of $285.81 million, a PE ratio of -14.76 and a beta of 0.29.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.05. The business had revenue of $11.78 million for the quarter, compared to analyst estimates of $11.90 million. 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. On average, research analysts expect that 908 Devices Inc. will post -1.99 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in 908 Devices by 190.9% in the fourth quarter. Bank of America Corp DE now owns 94,753 shares of the company’s stock valued at $208,000 after acquiring an additional 62,179 shares during the last quarter. Geode Capital Management LLC increased its stake in 908 Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 581,300 shares of the company’s stock valued at $1,279,000 after acquiring an additional 13,512 shares during the last quarter. Hsbc Holdings PLC increased its stake in 908 Devices by 32.2% in the fourth quarter. Hsbc Holdings PLC now owns 21,007 shares of the company’s stock valued at $46,000 after acquiring an additional 5,112 shares during the last quarter. Northern Trust Corp increased its stake in 908 Devices by 7.5% in the fourth quarter. Northern Trust Corp now owns 200,764 shares of the company’s stock valued at $442,000 after acquiring an additional 14,087 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in 908 Devices in the fourth quarter valued at approximately $42,000. 88.06% of the stock is owned by institutional investors.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.