John Kenneweg Sells 21,399 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) SVP John Kenneweg sold 21,399 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $10.11, for a total transaction of $216,343.89. Following the completion of the transaction, the senior vice president owned 57,784 shares of the company’s stock, valued at $584,196.24. This trade represents a 27.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Kenneweg also recently made the following trade(s):

• On Thursday, September 17th, John Kenneweg sold 5,257 shares of 908 Devices stock. The stock was sold at an average price of $10.22, for a total transaction of $53,726.54.
• On Tuesday, September 15th, John Kenneweg sold 1,000 shares of 908 Devices stock. The stock was sold at an average price of $10.00, for a total transaction of $10,000.00.

908 Devices Trading Down 4.1%

MASS opened at $10.53 on Friday. The stock has a market capitalization of $435.20 million, a P/E ratio of -11.08 and a beta of 0.68. 908 Devices Inc. has a 12 month low of $5.03 and a 12 month high of $11.25. The firm’s fifty day simple moving average is $9.21 and its 200 day simple moving average is $8.04.

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, topping 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 firm had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $15.37 million. On average, equities research analysts predict that 908 Devices Inc. will post -0.8 EPS for the current fiscal year.

Institutional Trading of 908 Devices

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC boosted its position 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 valued at $54,660,000 after purchasing an additional 210,241 shares during the last quarter. Gainline Financial Partners LLC acquired a new position in shares of 908 Devices during the 2nd quarter worth approximately $107,000. AXQ Capital LP acquired a new position in shares of 908 Devices during the 2nd quarter worth approximately $93,000. Bank of America Corp DE bought a new stake in shares of 908 Devices during the 2nd quarter worth approximately $2,184,000. Finally, AWM Investment Company Inc. bought a new stake in shares of 908 Devices during the 2nd quarter worth approximately $42,454,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analysts Set New Price Targets

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

About 908 Devices

908 Devices Inc develops purpose-built chemical and biological analysis instruments designed to deliver laboratory-quality information in the field, at manufacturing sites and in other nonlaboratory settings. The company’s technologies are intended to help users identify and characterize substances quickly without transporting samples to a centralized laboratory.

Its product portfolio includes handheld and portable mass spectrometry systems such as the MX908 and M908 platforms, which are designed for applications including the detection and identification of narcotics, explosives, chemical warfare agents and other hazardous substances.