Key Points
- Insider sale: Senior Vice President John Kenneweg sold 5,257 shares of 908 Devices for $53,726.54 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 8.34% to 57,784 shares. He also sold 22,399 shares in two earlier September transactions.
- Stock performance: 908 Devices shares opened at $10.98, up 10.7%, and are trading near their 52-week high of $11.25. The company has a market capitalization of approximately $453.85 million.
- Financials and outlook: The company reported quarterly revenue of $16.07 million and an adjusted loss of $0.11 per share, beating analyst estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $12.83, although the company remains unprofitable.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) SVP John Kenneweg sold 5,257 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.22, for a total value of $53,726.54. Following the transaction, the senior vice president directly owned 57,784 shares in the company, valued at approximately $590,552.48. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
John Kenneweg also recently made the following trade(s):
- On Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The shares were sold at an average price of $10.00, for a total value of $10,000.00.
- On Wednesday, September 16th, John Kenneweg sold 21,399 shares of 908 Devices stock. The shares were sold at an average price of $10.11, for a total value of $216,343.89.
908 Devices Trading Up 10.7%
908 Devices stock opened at $10.98 on Friday. The stock has a fifty day moving average price of $9.16 and a 200 day moving average price of $8.02. 908 Devices Inc. has a 52 week low of $5.03 and a 52 week high of $11.25. The firm has a market capitalization of $453.85 million, a P/E ratio of -11.56 and a beta of 0.68.
908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. The firm had revenue of $16.07 million for the quarter, compared to analyst estimates of $15.37 million. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%. As a group, equities analysts predict that 908 Devices Inc. will post -0.8 EPS for the current year.
Institutional Trading of 908 Devices
A number of institutional investors have recently modified their holdings of MASS. First Light Asset Management LLC increased its position in 908 Devices by 3.5% during the 2nd quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company's stock worth $54,660,000 after purchasing an additional 210,241 shares in the last quarter. AWM Investment Company Inc. acquired a new position in 908 Devices during the second quarter valued at approximately $42,454,000. BlackRock Inc. acquired a new position in 908 Devices during the second quarter valued at approximately $16,915,000. Needham Investment Management LLC lifted its position in 908 Devices by 246.8% during the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company's stock valued at $4,042,000 after buying an additional 548,000 shares in the last quarter. Finally, Granahan Investment Management LLC grew its stake in 908 Devices by 662.6% during the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company's stock worth $4,254,000 after buying an additional 603,929 shares during the period. Hedge funds and other institutional investors own 88.06% of the company's stock.
Analyst Ratings Changes
MASS has been the topic of several research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research report on Friday, August 7th. Roth Capital upped 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. Canaccord Genuity Group began coverage on shares of 908 Devices in a report on Thursday, September 10th. They issued a "buy" rating and a $13.50 price target on the stock. Wall Street Zen lowered shares of 908 Devices from a "buy" rating to a "hold" rating in a report on Saturday, September 12th. Finally, Stifel Nicolaus upped their price objective on 908 Devices from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.83.
Check Out Our Latest Research Report on MASS
908 Devices Company Profile
(
Get Free Report)
908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company's technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.
Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.
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