Sunday, June 26, 2022

Insider Selling: Knopp Kevin J., 908 Devices Inc. [MASS] President and CEO divested 9,200 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 908 Devices Inc. shares valued at $138,644 were sold by Knopp Kevin J. on Jun 21. At $15.07 per share, Knopp Kevin J. sold 9,200 shares. The insider’s holdings dropped to 686,838 shares worth approximately $10.83 million following the completion of this transaction.

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Also, Griffith Joseph H. IV sold 8,100 shares, netting a total of over 121,986 in proceeds. Following the sale of shares at $15.06 each, the insider now holds 91,580 shares.

Before that, Griffith Joseph H. IV had sold 900 shares from its account. In a trade valued at $13,509, the Chief Financial Officer traded 908 Devices Inc. shares for $15.01 each. Upon closing the transaction, the insider’s holdings decreased to 900 shares, worth approximately $1.44 million.

As published in a research note from Citigroup on May 19, 2022, Norfolk Southern Corporation [NSC] has been rated down from a Buy to a Neutral and the price target has been revised to $260 from $345. This represents a 13.79% premium over Wednesday’s closing price. Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early January. As of October 28, 2021, BofA Securities has increased its “Neutral” rating to a “Buy” for NSC. Earlier on July 12, 2021, Atlantic Equities initiated its rating. Their recommendation was “a Neutral” for NSC stock. Analysts at William Blair started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid January. As of January 12, 2021, SVB Leerink has initiated its “an Outperform” rating for MASS. Earlier on January 12, 2021, Stifel initiated its rating. Their recommendation was “a Buy” for MASS stock.

Analyzing MASS’s Price Performance

On Wednesday, 908 Devices Inc. [NASDAQ: MASS] rose 4.44% to $15.77. The stock’s lowest price that day was $14.89, but it reached a high of $16.21 in the same session. During the last five days, there has been a surge of approximately 14.94%. Over the course of the year, 908 Devices Inc. shares have dropped approximately -39.04%. Shares of the company reached a 52-week high of $26.63 on 01/03/22 and a 52-week low of $12.60 on 01/28/22. A 50-day SMA is recorded $16.10, while a 200-day SMA reached $22.58. Nevertheless, trading volume fell to 0.3 million shares from 0.25 million shares the previous day.

Support And Resistance Levels for 908 Devices Inc. (MASS)

According to the 24-hour chart, there is a support level at 15.04, which, if violated, would cause prices to drop to 14.30. In the upper region, resistance lies at 16.36. The next price resistance is at 16.94. RSI (Relative Strength Index) is 54.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.52, which suggests the price will decrease in the coming days. Percent R is at 13.75%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of 908 Devices Inc. (MASS)?

According to ARK Investment Management LLC filings, the company currently owns 3,482,926 shares, which is about 11.09% of the total MASS shares outstanding. The investor’s shares have appreciated by 486,533 from its previous 13-F filing of 2996393.0 shares. With the completion of the sale, BlackRock Advisors LLC’s stake is now worth $34,768,610. Eventide Asset Management LLC reduced a 0.00% interest valued at $19.63 million while BlackRock Fund Advisors purchased a 109,988 stake. A total of 57,229 shares of 908 Devices Inc. were bought by Granahan Investment Management, L during the quarter, and 51,393 were bought by The Vanguard Group, Inc. In its current portfolio, Millennium Management LLC holds 752,431 shares valued at $10.47 million.

In terms of 908 Devices Inc. share price expectations, FactSet research, analysts set an average price target of $26.50 in the next 12 months, up nearly 75.5% from the previous closing price of $15.10. Analysts anticipate 908 Devices Inc. stock to reach $30.00 by 2022, with the lowest price target being $23.00. In spite of this, 4 analysts ranked 908 Devices Inc. stock as a Buy at the end of 2022.

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