908 Devices (NASDAQ:MASS) CFO Joseph Iv Griffith Sells 5,000 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $13.03, for a total value of $65,150.00. Following the completion of the sale, the chief financial officer owned 116,497 shares of the company’s stock, valued at $1,517,955.91. This represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

908 Devices Trading Down 2.0%

Shares of NASDAQ:MASS opened at $11.55 on Friday. The firm has a market capitalization of $477.36 million, a PE ratio of -12.16 and a beta of 0.63. 908 Devices Inc. has a 1-year low of $5.03 and a 1-year high of $13.35. The business’s 50 day moving average is $10.44 and its 200-day moving average is $8.60.

908 Devices (NASDAQ:MASS) last issued its earnings results on Tuesday, August 11th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%.The business had revenue of $16.07 million during the quarter, compared to analyst estimates of $15.37 million. On average, sell-side analysts predict that 908 Devices Inc. will post -0.59 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Roth Capital raised their price objective on shares of 908 Devices from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research note on Friday, August 7th. Stifel Nicolaus raised their price target on shares of 908 Devices from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded 908 Devices from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Canaccord Genuity Group initiated coverage on 908 Devices in a research note on Thursday, September 10th. They issued a “buy” rating and a $13.50 price objective on the stock. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, 908 Devices presently has an average rating of “Moderate Buy” and an average target price of $12.83.

Hedge Funds Weigh In On 908 Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC grew its stake in 908 Devices by 3.5% during the second quarter. First Light Asset Management LLC now owns 6,282,804 shares of the company’s stock worth $54,660,000 after buying an additional 210,241 shares during the last quarter. Gainline Financial Partners LLC bought a new position in shares of 908 Devices in the second quarter valued at approximately $107,000. AXQ Capital LP bought a new position in shares of 908 Devices in the second quarter valued at approximately $93,000. Bank of America Corp DE acquired a new position in shares of 908 Devices in the 2nd quarter worth approximately $2,184,000. Finally, AWM Investment Company Inc. acquired a new position in shares of 908 Devices in the 2nd quarter worth approximately $42,454,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

About 908 Devices

908 Devices Inc is a Boston-based technology company that develops and manufactures handheld and portable chemical detection and analysis instruments. Its products are designed to help users identify and characterize chemical substances in the field, at industrial sites and in laboratory settings without requiring samples to be transported to a centralized facility.

The company’s product portfolio includes the MX908 and related devices for detecting and identifying trace chemicals, explosives, narcotics and other substances; the Xplora platform for field and process analysis; and ZipChip technologies used for rapid, high-resolution separations in life sciences and biopharmaceutical research.