908 Devices Inc. (NASDAQ:MASS) Given Average Recommendation of "Buy" by Analysts

Key Points

• 908 Devices Inc. has an average rating of "Buy" from analysts, with an average target price of $8.00.
• CFO Joseph H. Iv Griffith sold 5,000 shares of the company's stock, resulting in a 4.86% decrease in their ownership.
• Institutional investors have recently increased their holdings in 908 Devices, with Rhumbline Advisers and ANTIPODES PARTNERS Ltd making notable increases of 5.5% and 49.7%, respectively.

Shares of 908 Devices Inc. (NASDAQ:MASS - Get Free Report) have received an average rating of "Buy" from the four analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.00.

A number of equities research analysts have recently issued reports on MASS shares. Leerink Partners raised shares of 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target on the stock in a report on Tuesday, August 5th. Wall Street Zen raised shares of 908 Devices from a "sell" rating to a "hold" rating in a report on Monday, September 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a report on Saturday, September 13th. Finally, Leerink Partnrs raised shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 5th.

Insider Activity

In related news, CFO Joseph H. Iv Griffith sold 5,000 shares of the company's stock in a transaction that occurred on 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 approximately $692,365.10. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its position in shares of 908 Devices by 5.5% in the second quarter. Rhumbline Advisers now owns 36,416 shares of the company's stock worth $260,000 after purchasing an additional 1,894 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 908 Devices by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company's stock worth $233,000 after purchasing an additional 1,985 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of 908 Devices by 49.7% in the second quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company's stock worth $47,000 after purchasing an additional 2,176 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of 908 Devices by 453.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company's stock worth $27,000 after purchasing an additional 3,100 shares during the last quarter. Finally, American Century Companies Inc. grew its position in 908 Devices by 10.8% during the first quarter. American Century Companies Inc. now owns 45,814 shares of the company's stock valued at $205,000 after acquiring an additional 4,471 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.

908 Devices Stock Performance

Shares of NASDAQ:MASS opened at $8.01 on Friday. The company's 50-day moving average is $6.54 and its 200 day moving average is $5.87. The company has a market capitalization of $287.24 million, a P/E ratio of -14.83 and a beta of 0.37. 908 Devices has a fifty-two week low of $1.81 and a fifty-two week high of $8.28.

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

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.

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