Meros Investment Management LP lifted its stake in shares of 908 Devices Inc. (NASDAQ:MASS – Free Report) by 232.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 347,035 shares of the company’s stock after acquiring an additional 242,712 shares during the period. Meros Investment Management LP owned approximately 0.96% of 908 Devices worth $1,822,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in MASS. AQR Capital Management LLC bought a new stake in shares of 908 Devices during the 1st quarter worth $365,000. Geode Capital Management LLC lifted its holdings 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 worth $4,697,000 after acquiring an additional 68,764 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of 908 Devices by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock worth $260,000 after acquiring an additional 1,894 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of 908 Devices by 22.9% during the 2nd quarter. American Century Companies Inc. now owns 56,296 shares of the company’s stock worth $401,000 after acquiring an additional 10,482 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of 908 Devices during the 2nd quarter worth $82,000. 88.06% of the stock is owned by institutional investors.
Insider Activity
In other 908 Devices news, SVP John Kenneweg sold 7,787 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $6.83, for a total value of $53,185.21. Following the transaction, the senior vice president owned 76,039 shares in the company, valued at approximately $519,346.37. The trade was a 9.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher D. Brown sold 30,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $270,000.00. Following the completion of the transaction, the director owned 895,559 shares in the company, valued at $8,060,031. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,520 shares of company stock worth $1,176,201 over the last ninety days. 28.20% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on MASS
908 Devices Trading Up 4.2%
MASS stock opened at $8.62 on Tuesday. The firm’s 50-day moving average price is $7.52 and its two-hundred day moving average price is $6.64. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34. The stock has a market capitalization of $325.92 million, a price-to-earnings ratio of -8.62 and a beta of 0.63.
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.
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