908 Devices Inc. (NASDAQ:MASS) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• 908 Devices Inc. has received a consensus rating of "Buy" from four brokerages, with an average 12-month price target of $8.00.
• Insider Michael S. Turner sold 7,148 shares, reducing his holdings by 83.89%, while insiders collectively own 23.70% of the company's stock.
• The company reported a revenue of $4.70 million for its last quarter, which missed analyst expectations of $12.17 million.

Shares of 908 Devices Inc. (NASDAQ:MASS - Get Free Report) have earned a consensus rating of "Buy" from the four brokerages that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.00.

Several brokerages have recently issued reports on MASS. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a research report on Saturday. Wall Street Zen raised 908 Devices from a "sell" rating to a "hold" rating in a research report on Saturday. Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. Finally, Leerink Partners raised 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 target price for the company in a research report on Tuesday, August 5th.

Insider Activity

In other news, insider Michael S. Turner sold 7,148 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total transaction of $53,681.48. Following the completion of the sale, the insider directly owned 1,373 shares of the company's stock, valued at $10,311.23. This trade represents a 83.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 24,603 shares of company stock worth $184,755. Company insiders own 23.70% of the company's stock.

Institutional Investors Weigh In On 908 Devices

Several large investors have recently added to or reduced their stakes in MASS. AWM Investment Company Inc. increased its holdings in 908 Devices by 210.6% in the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company's stock worth $23,296,000 after acquiring an additional 3,526,000 shares during the last quarter. First Light Asset Management LLC purchased a new stake in 908 Devices in the 1st quarter worth about $7,621,000. GM Advisory Group LLC purchased a new stake in 908 Devices in the 2nd quarter worth about $8,309,000. Invesco Ltd. purchased a new stake in 908 Devices in the 1st quarter worth about $2,910,000. Finally, Marshall Wace LLP increased its holdings in 908 Devices by 359.4% in the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company's stock worth $4,626,000 after acquiring an additional 507,562 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

908 Devices Trading Down 5.0%

NASDAQ MASS opened at $5.94 on Wednesday. The firm has a market capitalization of $213.01 million, a P/E ratio of -11.00 and a beta of 0.37. The business has a fifty day simple moving average of $6.64 and a 200 day simple moving average of $5.42. 908 Devices has a 12 month low of $1.81 and a 12 month high of $8.06.

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

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.

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