908 Devices (NASDAQ:MASS) Director Christopher Brown Sells 20,000 Shares

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $8.49, for a total value of $169,800.00. Following the transaction, the director owned 823,359 shares in the company, valued at approximately $6,990,317.91. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Price Performance

Shares of NASDAQ:MASS opened at $8.88 on Friday. The stock has a market capitalization of $335.75 million, a P/E ratio of -8.88 and a beta of 0.66. The business has a 50-day moving average of $8.20 and a two-hundred day moving average of $7.28. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $9.34.

Hedge Funds Weigh In On 908 Devices

Several large investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in 908 Devices in the 2nd quarter worth approximately $48,000. Intelligence Driven Advisers LLC bought a new stake in shares of 908 Devices in the first quarter valued at approximately $61,000. Daiwa Securities Group Inc. bought a new stake in shares of 908 Devices in the second quarter valued at approximately $61,000. PCM Encore LLC acquired a new stake in shares of 908 Devices in the fourth quarter worth $62,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of 908 Devices in the second quarter worth $77,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MASS has been the subject of several analyst reports. Roth Capital started coverage on 908 Devices in a report on Wednesday, July 29th. They issued a “buy” rating and a $11.00 target price for the company. Wall Street Zen downgraded 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings lowered shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research 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 MarketBeat, 908 Devices presently has a consensus rating of “Hold” and a consensus price target of $11.00.

About 908 Devices

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.