Key Points
- Director Christopher Brown sold 20,000 shares of 908 Devices at an average price of $8.49, generating $169,800. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 2.37% to 823,359 shares.
- 908 Devices shares opened at $8.88, compared with a 12-month range of $5.03 to $9.34, and the company had a market capitalization of approximately $335.75 million.
- Analyst views are mixed: Roth Capital initiated coverage with a Buy rating and an $11 price target, while other firms downgraded the stock. The consensus rating is Hold, with an average target price of $11.00; institutional investors own 88.06% of shares.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 20,000 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $8.49, for a total transaction of $169,800.00. Following the transaction, the director owned 823,359 shares in the company, valued at approximately $6,990,317.91. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Stock Performance
NASDAQ MASS opened at $8.88 on Friday. The firm has a 50-day simple moving average of $8.20 and a 200 day simple moving average of $7.28. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $9.34. The stock has a market cap of $335.75 million, a PE ratio of -8.88 and a beta of 0.66.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Roth Capital assumed coverage on 908 Devices in a research report on Wednesday, July 29th. They issued a "buy" rating and a $11.00 price objective for the company. Weiss Ratings lowered 908 Devices from a "hold (c-)" rating to a "sell (d-)" rating in a report on Monday, May 11th. Finally, Wall Street Zen cut 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $11.00.
Check Out Our Latest Research Report on MASS
Hedge Funds Weigh In On 908 Devices
Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of 908 Devices during the 2nd quarter valued at about $48,000. Intelligence Driven Advisers LLC acquired a new position in 908 Devices in the first quarter worth about $61,000. Daiwa Securities Group Inc. acquired a new position in 908 Devices in the second quarter worth about $61,000. PCM Encore LLC bought a new position in 908 Devices during the fourth quarter worth about $62,000. Finally, The Manufacturers Life Insurance Company bought a new position in 908 Devices during the second quarter worth about $77,000. 88.06% of the stock is owned by institutional investors.
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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