908 Devices (NASDAQ:MASS) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of 908 Devices (NASDAQ:MASS) from a hold rating to a sell rating in a report issued on Sunday morning.

Several other research analysts also recently weighed in on MASS. Leerink Partners raised shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Tuesday, August 5th. Leerink Partnrs raised shares of 908 Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $8.00.

908 Devices Stock Up 0.2%

NASDAQ:MASS opened at $5.65 on Friday. The company has a market capitalization of $202.61 million, a PE ratio of -10.46 and a beta of 0.37. 908 Devices has a 52-week low of $1.81 and a 52-week high of $8.06. The stock has a fifty day simple moving average of $6.52 and a 200-day simple moving average of $5.52.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm had revenue of $4.70 million for the quarter, compared to analyst estimates of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. 908 Devices has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that 908 Devices will post -1.99 earnings per share for the current year.

Insider Activity at 908 Devices

In other news, insider Michael S. Turner sold 16,082 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the completion of the transaction, the insider owned 8,521 shares of the company’s stock, valued at $63,992.71. This represents a 65.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 24,603 shares of company stock worth $184,755. Corporate insiders own 23.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of 908 Devices by 453.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock valued at $27,000 after acquiring an additional 3,100 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of 908 Devices during the 4th quarter valued at about $30,000. CWM LLC increased its stake in shares of 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company’s stock valued at $31,000 after acquiring an additional 5,877 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of 908 Devices during the 4th quarter valued at about $36,000. Finally, Two Sigma Investments LP acquired a new position in shares of 908 Devices during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 88.06% 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.