Key Points
- Director sale: Christopher Brown sold 30,000 shares of 908 Devices at an average price of $11.89, generating $356,700. The transaction, made under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 3.87% to 745,559 shares.
- Stock and financial performance: Shares opened at $12.05 after rising 4.3%, with a 12-month range of $5.03 to $13.35. The company recently reported quarterly revenue of $16.07 million and an adjusted loss of $0.11 per share, beating analyst estimates.
- Analyst outlook: Institutional investors and hedge funds own 88.06% of the stock. Analysts have a consensus “Moderate Buy” rating and an average price target of $12.83, though ratings range from Buy to Sell.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 30,000 shares of the company's stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $11.89, for a total transaction of $356,700.00. Following the completion of the transaction, the director owned 745,559 shares of the company's stock, valued at $8,864,696.51. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Trading Up 4.3%
MASS opened at $12.05 on Friday. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $13.35. The firm has a market cap of $498.03 million, a price-to-earnings ratio of -12.68 and a beta of 0.63. The company has a fifty day simple moving average of $10.52 and a 200 day simple moving average of $8.62.
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. The firm had revenue of $16.07 million for the quarter, compared to analyst estimates 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, analysts forecast that 908 Devices Inc. will post -0.59 earnings per share for the current fiscal year.
Hedge Funds Weigh In On 908 Devices
A number of hedge funds have recently bought and sold shares of MASS. Legal & General Group Plc bought a new position in 908 Devices during the 2nd quarter worth approximately $27,000. Allworth Financial LP bought a new stake in shares of 908 Devices in the 2nd quarter valued at approximately $29,000. Intelligence Driven Advisers LLC bought a new stake in shares of 908 Devices in the 1st quarter valued at approximately $61,000. AXQ Capital LP acquired a new stake in shares of 908 Devices during the 2nd quarter valued at approximately $93,000. Finally, PCM Encore LLC bought a new position in 908 Devices during the second quarter worth $103,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Canaccord Genuity Group started coverage on 908 Devices in a report on Thursday, September 10th. They issued a "buy" rating and a $13.50 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a report on Friday, August 7th. Wall Street Zen lowered 908 Devices from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. 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. Finally, Stifel Nicolaus lifted their price target on shares of 908 Devices from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.83.
Check Out Our Latest Analysis on MASS
About 908 Devices
(
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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