Insider Selling: 908 Devices (NASDAQ:MASS) Director Sells $89,496.00 in Stock

908 Devices Inc. (NASDAQ:MASS) Director Christopher Brown sold 9,900 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $9.04, for a total value of $89,496.00. Following the transaction, the director owned 865,559 shares in the company, valued at approximately $7,824,653.36. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Stock Performance

MASS opened at $8.79 on Friday. The firm has a market cap of $332.50 million, a P/E ratio of -8.79 and a beta of 0.63. 908 Devices Inc. has a 52-week low of $5.03 and a 52-week high of $9.34. The business’s fifty day moving average is $7.84 and its 200-day moving average is $6.79.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of 908 Devices from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MASS. Raymond James Financial Inc. bought a new stake in shares of 908 Devices during the 2nd quarter valued at approximately $48,000. Daiwa Securities Group Inc. acquired a new stake in 908 Devices in the second quarter valued at approximately $61,000. Intelligence Driven Advisers LLC acquired a new stake in 908 Devices in the first quarter valued at approximately $61,000. Russell Investments Group Ltd. bought a new stake in shares of 908 Devices during the third quarter worth $93,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of 908 Devices during the second quarter worth $77,000. Institutional investors own 88.06% of the company’s stock.

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.