GSA Capital Partners LLP Purchases New Position in 908 Devices Inc. $MASS

GSA Capital Partners LLP purchased a new position in shares of 908 Devices Inc. (NASDAQ:MASS) during the second quarter, Holdings Channel.com reports. The fund purchased 49,160 shares of the company’s stock, valued at approximately $428,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MASS. Prescott Group Capital Management L.L.C. grew its holdings in 908 Devices by 90.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock valued at $1,898,000 after purchasing an additional 171,590 shares during the period. Nano Cap New Millennium Growth Fund L P purchased a new position in 908 Devices during the fourth quarter valued at $630,000. First Light Asset Management LLC increased its stake in shares of 908 Devices by 25.6% during the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company’s stock worth $37,164,000 after purchasing an additional 1,236,377 shares in the last quarter. Meros Investment Management LP increased its stake in shares of 908 Devices by 232.7% during the fourth quarter. Meros Investment Management LP now owns 347,035 shares of the company’s stock worth $1,822,000 after purchasing an additional 242,712 shares in the last quarter. Finally, Needham Investment Management LLC boosted its holdings in 908 Devices by 246.8% in the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $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.

908 Devices Stock Performance

NASDAQ:MASS opened at $10.68 on Friday. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $10.70. The company has a 50 day moving average price of $8.54 and a 200 day moving average price of $7.53. The stock has a market capitalization of $441.40 million, a P/E ratio of -11.24 and a beta of 0.66.

908 Devices (NASDAQ:MASS) last announced its earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share (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 company had revenue of $16.07 million for the quarter, compared to analyst estimates of $15.37 million. Research analysts forecast that 908 Devices Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Joseph H. Iv Griffith sold 6,940 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total value of $62,668.20. Following the completion of the transaction, the chief financial officer owned 132,956 shares in the company, valued at approximately $1,200,592.68. This represents a 4.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher D. Brown sold 8,358 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $9.23, for a total transaction of $77,144.34. Following the sale, the director owned 805,559 shares of the company’s stock, valued at approximately $7,435,309.57. This represents a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 106,940 shares of company stock worth $949,714 in the last three months. Corporate insiders own 28.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on MASS shares. Stifel Nicolaus increased their target price on 908 Devices from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Roth Capital upped their price objective on shares of 908 Devices from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen cut shares of 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.