State Board of Administration of Florida Retirement System Sells 3,420 Shares of 908 Devices Inc. (NASDAQ:MASS)

State Board of Administration of Florida Retirement System decreased its position in shares of 908 Devices Inc. (NASDAQ:MASS – Get Rating) by 24.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,548 shares of the company’s stock after selling 3,420 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in 908 Devices were worth $80,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fred Alger Management LLC lifted its position in 908 Devices by 223.2% during the third quarter. Fred Alger Management LLC now owns 3,459,103 shares of the company’s stock worth $56,902,000 after purchasing an additional 2,388,844 shares during the period. Eventide Asset Management LLC raised its stake in 908 Devices by 14.5% during the third quarter. Eventide Asset Management LLC now owns 1,715,801 shares of the company’s stock worth $28,225,000 after acquiring an additional 217,700 shares in the last quarter. Vanguard Group Inc. raised its stake in 908 Devices by 25.5% during the third quarter. Vanguard Group Inc. now owns 1,422,151 shares of the company’s stock worth $23,394,000 after acquiring an additional 288,923 shares in the last quarter. State Street Corp raised its stake in 908 Devices by 7.4% during the third quarter. State Street Corp now owns 640,325 shares of the company’s stock worth $10,533,000 after acquiring an additional 43,893 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in 908 Devices during the third quarter worth about $4,061,000. Institutional investors own 80.53% of the company’s stock.

908 Devices Trading Up 16.6 %

Shares of NASDAQ MASS opened at $10.02 on Wednesday. The company has a market cap of $322.24 million, a price-to-earnings ratio of -8.64 and a beta of 0.59. 908 Devices Inc. has a 12 month low of $5.69 and a 12 month high of $26.00. The stock has a 50-day moving average price of $7.80 and a two-hundred day moving average price of $8.86.

908 Devices (NASDAQ:MASS – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). 908 Devices had a negative net margin of 76.37% and a negative return on equity of 19.08%. The firm had revenue of $9.50 million during the quarter, compared to analyst estimates of $8.65 million. During the same period in the prior year, the company earned ($0.30) EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts predict that 908 Devices Inc. will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Stephens assumed coverage on 908 Devices in a research note on Monday, February 6th. They set an “overweight” rating and a $14.00 target price for the company.

About 908 Devices

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908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry (Mass Spec) devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, industrial biotech, 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 gas, liquid, and solid materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and ZipChip solution, a plug-and-play, high-resolution separation platform that optimizes Mass Spec sample analysis.