Cambridge Investment Research Advisors Inc. Makes New $45,000 Investment in 908 Devices Inc. (NASDAQ:MASS)

Cambridge Investment Research Advisors Inc. bought a new position in shares of 908 Devices Inc. (NASDAQ:MASS) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in 908 Devices during the first quarter worth about $338,000. 49 Wealth Management LLC raised its position in shares of 908 Devices by 59.7% in the fourth quarter. 49 Wealth Management LLC now owns 49,670 shares of the company’s stock valued at $109,000 after buying an additional 18,571 shares during the last quarter. AWM Investment Company Inc. raised its position in shares of 908 Devices by 6.3% in the fourth quarter. AWM Investment Company Inc. now owns 1,673,924 shares of the company’s stock valued at $3,683,000 after buying an additional 99,594 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of 908 Devices in the fourth quarter valued at approximately $42,000. Finally, Two Sigma Advisers LP acquired a new position in shares of 908 Devices in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Saturday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

908 Devices Price Performance

NASDAQ MASS opened at $6.50 on Wednesday. 908 Devices Inc. has a 12 month low of $1.81 and a 12 month high of $8.06. The company has a market capitalization of $233.09 million, a price-to-earnings ratio of -12.04 and a beta of 0.38. The company’s fifty day moving average price is $6.28 and its two-hundred day moving average price is $4.42.

908 Devices (NASDAQ:MASS) last issued its earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $11.78 million for the quarter, compared to analysts’ expectations of $11.90 million. 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. As a group, analysts anticipate that 908 Devices Inc. will post -1.99 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael S. Turner sold 7,148 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total value of $53,681.48. Following the sale, the insider owned 1,373 shares of the company’s stock, valued at $10,311.23. This trade represents a 83.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $7.08, for a total transaction of $49,135.20. Following the completion of the sale, the chief financial officer directly owned 102,930 shares in the company, valued at approximately $728,744.40. This trade represents a 6.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,543 shares of company stock valued at $233,890 in the last quarter. Company insiders own 23.70% of the company’s stock.

908 Devices Company Profile

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.