First Light Asset Management LLC raised its holdings in shares of 908 Devices Inc. (NASDAQ:MASS – Free Report) by 25.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,072,563 shares of the company’s stock after purchasing an additional 1,236,377 shares during the quarter. 908 Devices accounts for about 3.3% of First Light Asset Management LLC’s portfolio, making the stock its 10th largest position. First Light Asset Management LLC owned about 16.06% of 908 Devices worth $37,164,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of 908 Devices in the 2nd quarter worth about $48,000. Intelligence Driven Advisers LLC purchased a new stake in shares of 908 Devices during the 1st quarter valued at about $61,000. Daiwa Securities Group Inc. bought a new position in shares of 908 Devices in the 2nd quarter valued at about $61,000. PCM Encore LLC bought a new position in shares of 908 Devices in the 4th quarter valued at about $62,000. Finally, The Manufacturers Life Insurance Company purchased a new position in 908 Devices in the second quarter worth about $77,000. 88.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings cut 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, 908 Devices currently has an average rating of “Hold” and a consensus target price of $12.00.
908 Devices Stock Performance
908 Devices stock opened at $7.14 on Monday. The firm has a 50-day moving average price of $8.12 and a 200-day moving average price of $7.12. The firm has a market capitalization of $269.96 million, a PE ratio of -7.14 and a beta of 0.63. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $9.34.
Insider Buying and Selling
In other 908 Devices news, CFO Joseph H. Iv Griffith sold 6,940 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $9.03, for a total transaction of $62,668.20. Following the completion of the transaction, the chief financial officer owned 132,956 shares in the company, valued at $1,200,592.68. The trade was a 4.96% decrease in their ownership of the stock. The sale 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. Also, Director Christopher D. Brown sold 9,900 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $9.04, for a total value of $89,496.00. Following the transaction, the director directly owned 865,559 shares in the company, valued at approximately $7,824,653.36. This represents a 1.13% 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 96,927 shares of company stock valued at $815,293 in the last ninety days. 28.20% of the stock is owned by company insiders.
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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