908 Devices (NASDAQ:MASS) Announces Earnings Results

908 Devices (NASDAQ:MASS) posted its earnings results on Monday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03), Zacks reports. 908 Devices had a negative net margin of 7.17% and a negative return on equity of 22.12%. The business had revenue of $4.80 million during the quarter, compared to analyst estimates of $13.58 million. 908 Devices updated its FY 2025 guidance to EPS.

908 Devices Stock Up 2.8%

908 Devices stock traded up $0.17 during mid-day trading on Wednesday, hitting $6.06. 34,614 shares of the company were exchanged, compared to its average volume of 1,209,847. The company has a market capitalization of $217.13 million, a PE ratio of -54.90 and a beta of 0.45. The business has a fifty day moving average of $7.59 and a 200 day moving average of $6.77. 908 Devices has a 1-year low of $1.81 and a 1-year high of $9.34.

Wall Street Analysts Forecast Growth

MASS has been the subject of several research analyst reports. Leerink Partners raised 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Tuesday, August 5th. Leerink Partnrs upgraded 908 Devices from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of 908 Devices from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Insider Transactions at 908 Devices

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 5,000 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $7.07, for a total value of $35,350.00. Following the transaction, the chief financial officer directly owned 97,930 shares in the company, valued at $692,365.10. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 10,000 shares of company stock worth $80,593. Company insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On 908 Devices

Several hedge funds have recently made changes to their positions in MASS. Raymond James Financial Inc. bought a new position in shares of 908 Devices in the 2nd quarter valued at about $48,000. Daiwa Securities Group Inc. bought a new stake in 908 Devices in the 2nd quarter valued at $61,000. The Manufacturers Life Insurance Company bought a new stake in 908 Devices in the 2nd quarter valued at about $77,000. Walleye Capital LLC bought a new stake in 908 Devices during the second quarter worth $82,000. Finally, Rhumbline Advisers increased its holdings in shares of 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock worth $260,000 after buying an additional 1,894 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

About 908 Devices

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.