Key Points
- Director Christopher Brown sold 30,000 shares of 908 Devices at an average price of $10.58, totaling $317,400. The transaction, made under a Rule 10b5-1 plan, reduced his holdings by 3.72% to 775,559 shares.
- 908 Devices reported quarterly revenue of $16.07 million and an adjusted loss of $0.11 per share, beating analyst estimates of $15.37 million in revenue and a $0.14 loss. The company remains unprofitable, with a negative net margin of 56.96%.
- Analyst sentiment is mixed, with two Buy ratings and one Sell rating, producing an average 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) Director Christopher Brown sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $10.58, for a total value of $317,400.00. Following the completion of the sale, the director directly owned 775,559 shares of the company's stock, valued at approximately $8,205,414.22. The trade was a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Stock Performance
NASDAQ:MASS opened at $10.05 on Friday. The company has a market capitalization of $415.37 million, a P/E ratio of -10.58 and a beta of 0.68. The stock's 50 day moving average price is $8.91 and its 200 day moving average price is $7.82. 908 Devices Inc. has a 52 week low of $5.03 and a 52 week high of $11.25.
908 Devices (NASDAQ:MASS - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. The company had revenue of $16.07 million during the quarter, compared to the consensus estimate of $15.37 million. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. As a group, sell-side analysts forecast that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.
Institutional Trading of 908 Devices
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in 908 Devices during the second quarter valued at approximately $27,000. Allworth Financial LP acquired a new stake in 908 Devices in the 2nd quarter valued at $29,000. California State Teachers Retirement System boosted its stake in 908 Devices by 128.3% in the 2nd quarter. California State Teachers Retirement System now owns 3,384 shares of the company's stock valued at $29,000 after buying an additional 1,902 shares in the last quarter. Raymond James Financial Inc. bought a new stake in 908 Devices in the second quarter valued at $48,000. Finally, Intelligence Driven Advisers LLC bought a new stake in 908 Devices in the first quarter valued at $61,000. Institutional investors own 88.06% of the company's stock.
Wall Street Analysts Forecast Growth
MASS has been the topic of several research analyst reports. Roth Capital raised their price target on shares of 908 Devices from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Wall Street Zen raised 908 Devices from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research note on Friday, August 7th. Finally, Stifel Nicolaus raised their price objective on 908 Devices from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $12.50.
Read 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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