Key Points
- 908 Devices CFO Joseph Iv Griffith sold 11,459 shares for $125,476 at an average price of $10.95, reducing his position by 8.62%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- The stock was up 7.0%, opening at $11.10, after the company reported quarterly EPS of negative $0.11, beating estimates, and revenue of $16.07 million, ahead of expectations.
- Analyst sentiment remains mixed, with a consensus “Hold” rating and a $12.50 price target; institutional investors own approximately 88.06% of the company.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) CFO Joseph Iv Griffith sold 11,459 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $10.95, for a total transaction of $125,476.05. Following the transaction, the chief financial officer owned 121,497 shares of the company's stock, valued at $1,330,392.15. This represents a 8.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Stock Up 7.0%
MASS opened at $11.10 on Friday. The firm has a 50-day moving average price of $8.72 and a 200-day moving average price of $7.66. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $11.25. The company has a market capitalization of $458.76 million, a price-to-earnings ratio of -11.68 and a beta of 0.66.
908 Devices (NASDAQ:MASS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.03. The company had revenue of $16.07 million for the quarter, compared to analysts' expectations of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. On average, sell-side analysts expect that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their target price on shares of 908 Devices from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a report on Friday, August 7th. Wall Street Zen cut 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Finally, Roth Capital boosted their price objective on 908 Devices from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.50.
Check Out Our Latest Stock Report on 908 Devices
Institutional Trading of 908 Devices
Several institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its position in shares of 908 Devices by 128.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,384 shares of the company's stock valued at $29,000 after acquiring an additional 1,902 shares during the last quarter. Gainline Financial Partners LLC purchased a new position in shares of 908 Devices during the second quarter worth about $107,000. AXQ Capital LP bought a new position in shares of 908 Devices in the second quarter worth approximately $93,000. Bank of America Corp DE bought a new position in shares of 908 Devices in the second quarter worth approximately $2,184,000. Finally, AWM Investment Company Inc. bought a new position in shares of 908 Devices in the second quarter worth approximately $42,454,000. Hedge funds and other institutional investors own 88.06% of the company's stock.
908 Devices Company Profile
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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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