Amova Asset Management Americas Inc. Has $2.79 Million Stake in 908 Devices Inc. $MASS

Amova Asset Management Americas Inc. lowered its stake in shares of 908 Devices Inc. (NASDAQ:MASS) by 19.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,350 shares of the company’s stock after selling 76,025 shares during the quarter. Amova Asset Management Americas Inc. owned about 0.89% of 908 Devices worth $2,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GM Advisory Group LLC acquired a new position in 908 Devices in the second quarter valued at about $8,309,000. First Eagle Investment Management LLC increased its position in 908 Devices by 125.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 603,962 shares of the company’s stock worth $5,291,000 after purchasing an additional 336,584 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of 908 Devices during the second quarter worth $1,515,000. Dynamic Technology Lab Private Ltd acquired a new position in 908 Devices in the 2nd quarter worth about $132,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in 908 Devices in the 2nd quarter valued at approximately $775,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Insider Transactions at 908 Devices

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 23,175 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $6.18, for a total value of $143,221.50. Following the transaction, the chief financial officer directly owned 139,896 shares of the company’s stock, valued at approximately $864,557.28. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.70% of the company’s stock.

908 Devices Trading Up 0.1%

Shares of MASS opened at $6.75 on Friday. The firm’s fifty day simple moving average is $6.21 and its two-hundred day simple moving average is $6.64. 908 Devices Inc. has a 12 month low of $2.67 and a 12 month high of $9.34. The stock has a market capitalization of $244.30 million, a P/E ratio of 12.27 and a beta of 0.47.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. 908 Devices had a negative return on equity of 14.87% and a net margin of 34.68%.The firm had revenue of $17.38 million during the quarter, compared to analyst estimates of $16.19 million. As a group, research analysts predict that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

908 Devices Company Profile

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.