Insider Selling: 908 Devices Inc. (NASDAQ:MASS) CFO Sells $49,135.20 in Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph H. Iv Griffith sold 6,940 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $7.08, for a total transaction of $49,135.20. Following the transaction, the chief financial officer now directly owns 102,930 shares of the company’s stock, valued at $728,744.40. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

908 Devices Stock Performance

908 Devices stock opened at $6.94 on Monday. 908 Devices Inc. has a 1 year low of $1.81 and a 1 year high of $7.32. The company’s 50 day simple moving average is $5.03 and its 200-day simple moving average is $3.55. The company has a market capitalization of $248.88 million, a price-to-earnings ratio of -3.92 and a beta of 0.29.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The firm had revenue of $11.78 million during the quarter, compared to analysts’ expectations of $11.90 million. 908 Devices had a negative net margin of 109.11% and a negative return on equity of 24.60%. Equities analysts expect that 908 Devices Inc. will post -1.99 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of 908 Devices in a research note on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.33.

Institutional Investors Weigh In On 908 Devices

Several hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP purchased a new stake in shares of 908 Devices during the fourth quarter valued at approximately $30,000. CWM LLC lifted its holdings in 908 Devices by 541.2% in the first quarter. CWM LLC now owns 6,963 shares of the company’s stock worth $31,000 after purchasing an additional 5,877 shares during the period. Prudential Financial Inc. acquired a new stake in 908 Devices in the fourth quarter worth about $34,000. Occudo Quantitative Strategies LP acquired a new stake in 908 Devices in the 4th quarter valued at about $36,000. Finally, Two Sigma Investments LP acquired a new stake in 908 Devices during the 4th quarter worth about $42,000. 88.06% of the stock is owned by institutional investors and hedge funds.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.