Key Points
- Director Christopher Brown sold 30,000 shares for $328,500, at an average price of $10.95. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 775,559 shares.
- 908 Devices reported quarterly revenue of $16.07 million and a loss of $0.11 per share, beating analysts’ estimates for both revenue and earnings.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $12.83; institutional investors own 88.06% of the company’s stock.
908 Devices Inc. (NASDAQ:MASS - Get Free Report) Director Christopher Brown sold 30,000 shares of 908 Devices stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $10.95, for a total transaction of $328,500.00. Following the completion of the sale, the director owned 775,559 shares of the company's stock, valued at $8,492,371.05. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
908 Devices Trading Up 4.0%
MASS opened at $10.56 on Friday. 908 Devices Inc. has a 12-month low of $5.03 and a 12-month high of $13.35. The firm has a market capitalization of $436.44 million, a PE ratio of -11.12 and a beta of 0.66. The firm has a 50 day moving average of $11.19 and a two-hundred day moving average of $8.48.
908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate 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 business had revenue of $16.07 million for the quarter, compared to the consensus estimate of $15.37 million. As a group, analysts predict that 908 Devices Inc. will post -0.59 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Canaccord Genuity Group started coverage on shares of 908 Devices in a research note on Thursday, September 10th. They issued a "buy" rating and a $13.50 price objective for the company. Wall Street Zen downgraded 908 Devices from a "buy" rating to a "hold" rating in a report on Saturday, September 12th. Roth Capital upped their target price on 908 Devices from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Stifel Nicolaus raised their price target on 908 Devices from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, 908 Devices presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.83.
View Our Latest Report on MASS
Institutional Investors Weigh In On 908 Devices
Hedge funds have recently made changes to their positions in the business. Pier 88 Investment Partners LLC increased its position in 908 Devices by 59.2% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 22,600 shares of the company's stock valued at $279,000 after acquiring an additional 8,400 shares during the period. First Light Asset Management LLC lifted 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 acquiring an additional 210,241 shares during the period. Gainline Financial Partners LLC purchased a new position in shares of 908 Devices in the 2nd quarter valued at approximately $107,000. AXQ Capital LP acquired a new position in shares of 908 Devices in the second quarter valued at approximately $93,000. Finally, Bank of America Corp DE acquired a new position in shares of 908 Devices in the second quarter valued at approximately $2,184,000. 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 analytical technology company that develops purpose-built mass spectrometers for use outside traditional laboratory environments. Its instruments are designed to provide rapid chemical and biological analysis in the field, helping users identify unknown substances and make time-sensitive decisions.
The company's product portfolio includes the MX908 handheld mass spectrometer, which is used to detect and identify chemical threats, explosives, narcotics and other hazardous materials.
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