Key Points
- CFO Joseph Iv Griffith sold 5,000 shares of 908 Devices at an average price of $13.03, totaling $65,150, under a pre-arranged Rule 10b5-1 trading plan. He retained 116,497 shares after the sale.
- 908 Devices reported quarterly revenue of $16.07 million and adjusted EPS of $(0.11), beating analyst estimates, but remains unprofitable with a negative net margin of 56.96%.
- Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and average price target of $12.83; institutional investors own approximately 88.06% of the company.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) CFO Joseph Iv Griffith sold 5,000 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $13.03, for a total value of $65,150.00. Following the sale, the chief financial officer owned 116,497 shares in the company, valued at $1,517,955.91. The trade was a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Stock Down 2.0%
908 Devices stock opened at $11.55 on Friday. The stock has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $8.60. The stock has a market capitalization of $477.36 million, a price-to-earnings ratio of -12.16 and a beta of 0.63. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $13.35.
908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. 908 Devices had a negative net margin of 56.96% and a negative return on equity of 12.54%. The firm had revenue of $16.07 million for the quarter, compared to analyst estimates of $15.37 million. As a group, sell-side analysts anticipate that 908 Devices Inc. will post -0.59 EPS for the current year.
Analysts Set New Price Targets
Several research analysts recently weighed in on MASS shares. Stifel Nicolaus boosted their price objective on shares of 908 Devices from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research report on Friday, August 7th. Roth Capital lifted their target price on 908 Devices from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. Finally, Canaccord Genuity Group started coverage on 908 Devices in a research note on Thursday, September 10th. They set a "buy" rating and a $13.50 price target on the stock. Three research 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, 908 Devices has a consensus rating of "Moderate Buy" and an average target price of $12.83.
View Our Latest Stock Report on MASS
Institutional Investors Weigh In On 908 Devices
Several institutional investors have recently modified their holdings of MASS. Legal & General Group Plc bought a new position in 908 Devices in the second quarter valued at approximately $27,000. Allworth Financial LP acquired a new stake in 908 Devices during the 2nd quarter worth $29,000. Intelligence Driven Advisers LLC bought a new stake in shares of 908 Devices during the 1st quarter valued at $61,000. AXQ Capital LP bought a new stake in shares of 908 Devices during the 2nd quarter valued at $93,000. Finally, PCM Encore LLC bought a new stake in shares of 908 Devices during the 2nd quarter valued at $103,000. Institutional investors and hedge funds own 88.06% of the company's stock.
908 Devices Company Profile
(
Get Free Report)
908 Devices Inc is a Boston-based technology company that develops and manufactures handheld and portable chemical detection and analysis instruments. Its products are designed to help users identify and characterize chemical substances in the field, at industrial sites and in laboratory settings without requiring samples to be transported to a centralized facility.
The company's product portfolio includes the MX908 and related devices for detecting and identifying trace chemicals, explosives, narcotics and other substances; the Xplora platform for field and process analysis; and ZipChip technologies used for rapid, high-resolution separations in life sciences and biopharmaceutical research.
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