908 Devices (NASDAQ:MASS) CFO Sells $143,221.50 in Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 23,175 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $6.18, for a total value of $143,221.50. Following the sale, the chief financial officer owned 139,896 shares of the company’s stock, valued at $864,557.28. This trade represents a 14.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

908 Devices Trading Up 4.0%

Shares of 908 Devices stock traded up $0.25 on Tuesday, reaching $6.44. 403,376 shares of the company were exchanged, compared to its average volume of 359,430. 908 Devices Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $9.34. The firm has a market capitalization of $233.06 million, a price-to-earnings ratio of -58.55 and a beta of 0.48. The stock has a fifty day moving average price of $5.95 and a 200-day moving average price of $6.66.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The company had revenue of $14.01 million during the quarter, compared to analyst estimates of $13.58 million. 908 Devices had a negative net margin of 7.17% and a negative return on equity of 22.31%. On average, equities analysts anticipate that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Institutional Trading of 908 Devices

A number of hedge funds have recently made changes to their positions in the stock. First Light Asset Management LLC grew its position in 908 Devices by 135.2% during the third quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock valued at $21,992,000 after purchasing an additional 1,442,883 shares in the last quarter. GM Advisory Group LLC purchased a new stake in 908 Devices in the 2nd quarter worth approximately $8,309,000. Geode Capital Management LLC boosted its stake in shares of 908 Devices by 11.7% during the 2nd quarter. Geode Capital Management LLC now owns 658,603 shares of the company’s stock valued at $4,697,000 after buying an additional 68,764 shares during the period. Marshall Wace LLP grew its holdings in shares of 908 Devices by 359.4% during the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock valued at $4,626,000 after acquiring an additional 507,562 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of 908 Devices by 125.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock valued at $5,291,000 after acquiring an additional 336,584 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.00.

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.