Key Points
- SVP John Kenneweg sold 7,787 shares of 908 Devices at an average of $6.83 for a total of $53,185.21, a sale disclosed to the SEC that reduced his holding by 9.29% to 76,039 shares to cover tax withholding on vested equity.
- 908 Devices slightly beat quarterly expectations with EPS of ($0.05) vs. ($0.06) expected and revenue of $17.38M; the stock trades around $6.55 with a market cap of about $245.3M and a 1‑year range of $4.20–$9.34.
- Institutional investors own 88.06% of the company after several funds materially increased positions, and analysts have a consensus "Moderate Buy" with a $12.00 target price.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) SVP John Kenneweg sold 7,787 shares of 908 Devices stock in a transaction on Friday, May 1st. The shares were sold at an average price of $6.83, for a total value of $53,185.21. Following the sale, the senior vice president directly owned 76,039 shares in the company, valued at $519,346.37. The trade was a 9.29% decrease in their position. The sale was disclosed in a 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.
908 Devices Price Performance
Shares of 908 Devices stock opened at $6.55 on Tuesday. The business's fifty day moving average price is $6.60 and its two-hundred day moving average price is $6.51. The company has a market capitalization of $245.30 million, a P/E ratio of 11.91 and a beta of 0.57. 908 Devices Inc. has a 1-year low of $4.20 and a 1-year high of $9.34.
908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.99% and a net margin of 34.68%.The company had revenue of $17.38 million for the quarter, compared to the consensus estimate of $16.19 million. On average, research analysts expect that 908 Devices Inc. will post -0.41 earnings per share for the current fiscal year.
Hedge Funds Weigh In On 908 Devices
A number of hedge funds and other institutional investors have recently modified their holdings of MASS. First Light Asset Management LLC boosted its position in shares of 908 Devices by 92.6% in the 4th quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company's stock valued at $25,390,000 after purchasing an additional 2,325,690 shares during the period. Needham Investment Management LLC boosted its position in shares of 908 Devices by 246.8% in the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company's stock valued at $4,042,000 after purchasing an additional 548,000 shares during the period. Marshall Wace LLP boosted its position in shares of 908 Devices by 359.4% in the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company's stock valued at $4,626,000 after purchasing an additional 507,562 shares during the period. First Eagle Investment Management LLC boosted its position in shares of 908 Devices by 125.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company's stock valued at $5,291,000 after purchasing an additional 336,584 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of 908 Devices by 221.7% in the 2nd quarter. Bank of America Corp DE now owns 363,217 shares of the company's stock valued at $2,590,000 after purchasing an additional 250,311 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Wall Street Zen raised 908 Devices from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. Weiss Ratings raised 908 Devices from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.00.
Check Out Our Latest Research Report on MASS
About 908 Devices
(
Get Free Report)
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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