908 Devices (NASDAQ:MASS) CFO Joseph Iv Griffith Sells 11,459 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 11,459 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total transaction of $125,476.05. Following the completion of the sale, the chief financial officer owned 121,497 shares of the company’s stock, valued at approximately $1,330,392.15. This trade represents a 8.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Up 7.0%

908 Devices stock opened at $11.10 on Friday. 908 Devices Inc. has a 52 week low of $5.03 and a 52 week high of $11.25. The company’s 50 day moving average price is $8.72 and its two-hundred day moving average price is $7.66. The stock has a market cap of $458.76 million, a P/E ratio of -11.68 and a beta of 0.66.

908 Devices (NASDAQ:MASS) last released its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. The company had revenue of $16.07 million during the quarter, compared to analyst estimates of $15.37 million. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%. On average, equities analysts anticipate that 908 Devices Inc. will post -0.8 EPS for the current year.

Hedge Funds Weigh In On 908 Devices

Several institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. bought a new position in 908 Devices during the second quarter valued at $42,454,000. First Light Asset Management LLC increased its position in 908 Devices by 92.6% in the fourth quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company’s stock worth $25,390,000 after buying an additional 2,325,690 shares during the last quarter. BlackRock Inc. bought a new stake in shares of 908 Devices in the second quarter valued at $16,915,000. Granahan Investment Management LLC raised its stake in shares of 908 Devices by 662.6% in the first quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after buying an additional 603,929 shares during the period. Finally, Needham Investment Management LLC lifted its position in shares of 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after buying an additional 548,000 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their target price on 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Roth Capital lifted their target price on 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.50.

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.