908 Devices Inc. (NASDAQ:MASS) Receives Average Recommendation of "Buy" from Analysts

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.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) has earned a consensus recommendation of "Buy" from the four research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.00.

A number of research firms recently weighed in on MASS. Leerink Partners raised 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a research report on Tuesday, August 5th. Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research report on Saturday, August 30th. Finally, Wall Street Zen downgraded 908 Devices from a "hold" rating to a "sell" rating in a research report on Sunday.

908 Devices Stock Down 1.1%

MASS stock traded down $0.06 during mid-day trading on Wednesday, reaching $5.44. 238,473 shares of the stock traded hands, compared to its average volume of 238,584. 908 Devices has a 52 week low of $1.81 and a 52 week high of $8.06. The business has a 50-day moving average of $6.57 and a two-hundred day moving average of $5.50. The firm has a market capitalization of $195.08 million, a PE ratio of -10.07 and a beta of 0.37.

908 Devices (NASDAQ:MASS - Get Free Report) last released 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 net margin of 30.54% and a negative return on equity of 24.30%. The firm had revenue of $4.70 million for the quarter, compared to the consensus estimate of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that 908 Devices will post -1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael S. Turner sold 7,148 shares of 908 Devices stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total transaction of $53,681.48. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 24,603 shares of company stock worth $184,755 over the last 90 days. 23.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MASS. Nisa Investment Advisors LLC lifted its stake in 908 Devices by 453.2% during 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 period. Two Sigma Advisers LP bought a new position in 908 Devices during the fourth quarter worth about $30,000. CWM LLC lifted its stake in 908 Devices by 541.2% during the first quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after purchasing an additional 5,877 shares during the period. Occudo Quantitative Strategies LP bought a new position in 908 Devices during the fourth quarter worth about $36,000. Finally, Two Sigma Investments LP bought a new position in 908 Devices during the fourth quarter worth about $42,000. Institutional investors 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.