Key Points
- Director Christopher Brown sold 20,000 shares at an average of $7.23 on May 6 for a total of $144,600 under a pre-arranged Rule 10b5-1 plan, leaving him with 925,559 shares (a 2.12% reduction).
- The company reported Q results on March 3 with EPS of -$0.05 (beating estimates by $0.01) and revenue of $17.38M, but still shows a steep negative net margin (62.4%); analysts expect FY EPS of -0.41 and assign an average price target of $12 ("Moderate Buy").
- Shares trade near $8 (50-day MA $6.66, 200-day MA $6.49) with a market cap of $302.6M and a 52-week range of $4.20–$9.34, and institutional investors hold about 88.06% of the stock.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $7.23, for a total value of $144,600.00. Following the completion of the sale, the director owned 925,559 shares of the company's stock, valued at $6,691,791.57. This represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Price Performance
MASS opened at $8.08 on Friday. The company has a market capitalization of $302.60 million, a P/E ratio of -8.08 and a beta of 0.57. The firm's fifty day moving average price is $6.66 and its two-hundred day moving average price is $6.49. 908 Devices Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $9.34.
908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The firm had revenue of $17.38 million during the quarter, compared to analyst estimates of $16.19 million. 908 Devices had a negative net margin of 62.40% and a negative return on equity of 13.82%. On average, equities research analysts expect that 908 Devices Inc. will post -0.41 EPS for the current fiscal year.
Institutional Investors Weigh In On 908 Devices
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC bought a new position in shares of 908 Devices in the third quarter worth about $28,000. Raymond James Financial Inc. bought a new stake in shares of 908 Devices during the second quarter valued at approximately $48,000. Daiwa Securities Group Inc. acquired a new stake in shares of 908 Devices in the second quarter valued at approximately $61,000. PCM Encore LLC acquired a new stake in shares of 908 Devices in the fourth quarter valued at approximately $62,000. Finally, The Manufacturers Life Insurance Company bought a new position in 908 Devices in the 2nd quarter worth approximately $77,000. Institutional investors and hedge funds own 88.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on MASS. Wall Street Zen upgraded shares of 908 Devices from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. Weiss Ratings raised shares of 908 Devices from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, April 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, 908 Devices presently has an average rating of "Moderate Buy" and an average price target of $12.00.
Get Our Latest Report on 908 Devices
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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