908 Devices (NASDAQ:MASS) CFO Sells $62,668.20 in Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total transaction of $62,668.20. Following the sale, the chief financial officer owned 132,956 shares in the company, valued at $1,200,592.68. This represents a 4.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

Shares of NASDAQ:MASS traded down $0.52 during midday trading on Friday, reaching $8.41. The company had a trading volume of 336,962 shares, compared to its average volume of 297,617. The stock’s fifty day moving average price is $6.98 and its 200-day moving average price is $6.43. The stock has a market capitalization of $317.98 million, a P/E ratio of -8.41 and a beta of 0.57. 908 Devices Inc. has a one year low of $5.03 and a one year high of $9.34.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $17.38 million during the quarter, compared to analyst estimates of $16.19 million. 908 Devices had a negative net margin of 62.40% and a negative return on equity of 14.03%. As a group, sell-side analysts forecast that 908 Devices Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, 908 Devices presently has an average rating of “Hold” and a consensus target price of $12.00.

Hedge Funds Weigh In On 908 Devices

A number of hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC boosted its holdings in 908 Devices by 25.6% in the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock worth $37,164,000 after purchasing an additional 1,236,377 shares during the period. ARK Investment Management LLC boosted its holdings in 908 Devices by 1.6% in the fourth quarter. ARK Investment Management LLC now owns 1,985,986 shares of the company’s stock worth $10,426,000 after purchasing an additional 32,214 shares during the period. Needham Investment Management LLC boosted its holdings in 908 Devices by 246.8% in the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after purchasing an additional 548,000 shares during the period. Granahan Investment Management LLC boosted its holdings in 908 Devices by 662.6% in the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock worth $4,254,000 after purchasing an additional 603,929 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in 908 Devices by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 688,566 shares of the company’s stock worth $3,616,000 after purchasing an additional 16,477 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

908 Devices Company Profile

908 Devices Inc (NASDAQ: MASS) is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company’s core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.

Key products in 908 Devices’ portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.