908 Devices Inc. (NASDAQ:MASS – Get Free Report) Director Christopher Brown sold 30,000 shares of 908 Devices stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $10.95, for a total value of $328,500.00. Following the transaction, the director directly owned 775,559 shares of the company’s stock, valued at $8,492,371.05. The trade was a 3.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Stock Up 4.0%
NASDAQ:MASS traded up $0.41 during midday trading on Friday, hitting $10.56. The company had a trading volume of 332,773 shares, compared to its average volume of 338,203. The company has a market capitalization of $436.49 million, a PE ratio of -11.12 and a beta of 0.66. The stock’s fifty day moving average price is $11.20 and its 200-day moving average price is $8.46. 908 Devices Inc. has a 52-week low of $5.03 and a 52-week high of $13.35.
908 Devices (NASDAQ:MASS – Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. The company had revenue of $16.07 million for the quarter, compared to the consensus estimate of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. As a group, research analysts forecast that 908 Devices Inc. will post -0.59 earnings per share for the current year.
Institutional Trading of 908 Devices
A number of hedge funds and other institutional investors have recently made changes to their positions in MASS. AWM Investment Company Inc. acquired a new stake in shares of 908 Devices during the 2nd quarter valued at about $42,454,000. BlackRock Inc. purchased a new stake in 908 Devices during the 2nd quarter valued at about $16,915,000. First Light Asset Management LLC lifted its position in 908 Devices by 25.6% during the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock worth $37,164,000 after buying an additional 1,236,377 shares in the last quarter. Granahan Investment Management LLC boosted its holdings in 908 Devices by 662.6% in the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after purchasing an additional 603,929 shares during the last quarter. Finally, Meros Investment Management LP purchased a new position in 908 Devices during the second quarter worth about $3,143,902. Institutional investors and hedge funds own 88.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Wall Street Zen cut 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Stifel Nicolaus raised their target price on 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Canaccord Genuity Group initiated coverage on 908 Devices in a research note on Thursday, September 10th. They issued a “buy” rating and a $13.50 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday. Finally, Roth Capital raised their price target on 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.83.
View Our Latest Analysis on MASS
908 Devices Company Profile
908 Devices Inc is a Boston-based analytical technology company that develops purpose-built mass spectrometers for use outside traditional laboratory environments. Its instruments are designed to provide rapid chemical and biological analysis in the field, helping users identify unknown substances and make time-sensitive decisions.
The company’s product portfolio includes the MX908 handheld mass spectrometer, which is used to detect and identify chemical threats, explosives, narcotics and other hazardous materials.
Featured Stories
- Five stocks we like better than 908 Devices
- Q3 Earnings Have Investors Wondering: Is Mercado Libre Finally a Buy?
- CVS Raised Its Outlook and Announced a Breakup—So Why Did the Stock Drop?
- Array and Shoals Are Merging: Who Really Wins the All-Stock Solar Deal?
- Duolingo’s User Growth Is Outpacing Bookings, But Is Its Strategy Paying Off?
Receive News & Ratings for 908 Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 908 Devices and related companies with MarketBeat.com's FREE daily email newsletter.
