Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells 30,000 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $270,000.00. Following the transaction, the director directly owned 895,559 shares of the company’s stock, valued at approximately $8,060,031. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Down 5.8%

Shares of NASDAQ:MASS traded down $0.52 during midday trading on Friday, hitting $8.41. 336,962 shares of the stock traded hands, compared to its average volume of 297,617. The stock has a market capitalization of $317.98 million, a PE ratio of -8.41 and a beta of 0.57. The business’s 50 day moving average is $6.98 and its two-hundred day moving average is $6.43. 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 data on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative net margin of 62.40% and a negative return on equity of 14.03%. The firm had revenue of $17.38 million during the quarter, compared to the consensus estimate of $16.19 million. As a group, sell-side analysts forecast that 908 Devices Inc. will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On 908 Devices

Institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC increased its stake in shares of 908 Devices by 125.9% during the third quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock valued at $5,291,000 after purchasing an additional 336,584 shares in the last quarter. First Light Asset Management LLC increased its stake in shares of 908 Devices by 135.2% during the third quarter. First Light Asset Management LLC now owns 2,510,496 shares of the company’s stock valued at $21,992,000 after purchasing an additional 1,442,883 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its stake in shares of 908 Devices by 90.3% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock valued at $1,898,000 after purchasing an additional 171,590 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in shares of 908 Devices during the fourth quarter valued at approximately $630,000. Finally, HighMark Wealth Management LLC bought a new position in shares of 908 Devices during the fourth quarter valued at approximately $1,265,000. 88.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.