Key Points
- 908 Devices director Christopher Brown sold 30,000 shares on May 28 at an average price of $9.00, totaling $270,000. After the sale, he still held 895,559 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- The stock was trading lower, with MASS opening at $8.41 on Friday, down 5.8% for the session. The company’s shares have traded between a 12-month low of $5.03 and a high of $9.34.
- Analyst sentiment remains mixed but cautious, with a consensus rating of “Hold” and an average price target of $12.00. Recent updates included rating cuts from Wall Street Zen and Weiss Ratings.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) CFO Joseph Iv Griffith sold 6,940 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total value of $62,668.20. Following the completion of the transaction, the chief financial officer directly owned 132,956 shares in the company, valued at $1,200,592.68. This trade represents a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Price Performance
NASDAQ:MASS opened at $8.41 on Friday. The firm has a market capitalization of $318.02 million, a PE ratio of -8.41 and a beta of 0.57. The business's fifty day moving average price is $7.03 and its 200 day moving average price is $6.44. 908 Devices Inc. has a 12 month low of $5.03 and a 12 month high of $9.34.
908 Devices (NASDAQ:MASS - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $17.38 million for the quarter, compared to analyst estimates of $16.19 million. 908 Devices had a negative return on equity of 14.03% and a negative net margin of 62.40%. As a group, equities analysts anticipate that 908 Devices Inc. will post -0.38 EPS for the current year.
Hedge Funds Weigh In On 908 Devices
Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of 908 Devices during the second quarter worth about $48,000. Intelligence Driven Advisers LLC purchased a new position in shares of 908 Devices during the first quarter worth about $61,000. Daiwa Securities Group Inc. purchased a new position in shares of 908 Devices during the second quarter worth about $61,000. PCM Encore LLC purchased a new position in shares of 908 Devices during the fourth quarter worth about $62,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of 908 Devices during the second quarter worth about $77,000. Hedge funds and other institutional investors own 88.06% of the company's stock.
Analyst Ratings Changes
Several equities analysts have issued reports on MASS shares. Weiss Ratings lowered 908 Devices from a "hold (c-)" rating to a "sell (d-)" rating in a report on Monday, May 11th. Wall Street Zen lowered 908 Devices from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, 908 Devices currently has a consensus rating of "Hold" and an average target price of $12.00.
Check Out Our Latest Stock Analysis 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.
Further Reading
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