Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells 2,200 Shares

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 2,200 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $9.02, for a total value of $19,844.00. Following the sale, the director directly owned 843,359 shares in the company, valued at $7,607,098.18. This represents a 0.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Down 4.2%

Shares of MASS stock traded down $0.35 on Tuesday, hitting $8.07. The company had a trading volume of 296,070 shares, compared to its average volume of 302,396. 908 Devices Inc. has a twelve month low of $5.03 and a twelve month high of $9.34. The firm has a market cap of $305.13 million, a P/E ratio of -8.07 and a beta of 0.63. The company has a 50-day moving average price of $8.02 and a 200-day moving average price of $6.90.

Wall Street Analyst Weigh In

MASS has been the subject of several recent research reports. Wall Street Zen raised shares of 908 Devices from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Weiss Ratings cut shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MASS. Raymond James Financial Inc. acquired a new stake in 908 Devices in the 2nd quarter valued at $48,000. Intelligence Driven Advisers LLC acquired a new position in 908 Devices during the first quarter worth $61,000. Daiwa Securities Group Inc. purchased a new position in 908 Devices during the second quarter valued at $61,000. PCM Encore LLC purchased a new position in 908 Devices during the fourth quarter valued at $62,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of 908 Devices in the second quarter valued at about $77,000. Hedge funds and other institutional investors 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.