908 Devices' (MASS) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• The stock rating of 908 Devices (MASS) has been reaffirmed as a "sell (D-)" by Weiss Ratings, indicating continued investor caution.
• As of the latest report, 908 Devices shares have experienced a 5.2% decline in value, with a current price of $6.95.
• Insider trading activity includes a significant sale by Michael S. Turner, who reduced his stake by 83.89%, in contrast to Director Mark Spoto’s acquisition of additional shares.

908 Devices (NASDAQ:MASS - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

908 Devices Trading Down 5.2%

Shares of NASDAQ MASS opened at $6.95 on Tuesday. The stock has a 50 day simple moving average of $6.68 and a 200-day simple moving average of $4.75. The company has a market cap of $249.23 million, a PE ratio of -12.87 and a beta of 0.38. 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 announced its earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.05. 908 Devices had a negative return on equity of 27.10% and a negative net margin of 28.80%. The firm had revenue of $11.78 million for the quarter, compared to the consensus estimate of $11.90 million. Sell-side analysts forecast that 908 Devices will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael S. Turner sold 7,148 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total value of $53,681.48. Following the completion of the sale, the insider directly owned 1,373 shares of the company's stock, valued at approximately $10,311.23. This represents a 83.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Spoto acquired 10,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was bought at an average price of $4.29 per share, with a total value of $42,900.00. Following the completion of the acquisition, the director directly owned 62,971 shares of the company's stock, valued at approximately $270,145.59. This represents a 18.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 31,543 shares of company stock valued at $233,890 over the last 90 days. 23.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 908 Devices

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MASS. Two Sigma Advisers LP acquired a new stake in shares of 908 Devices in the fourth quarter valued at $30,000. CWM LLC raised its position in 908 Devices by 541.2% in the first quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after acquiring an additional 5,877 shares in the last quarter. Prudential Financial Inc. bought a new stake in 908 Devices in the fourth quarter worth about $34,000. Occudo Quantitative Strategies LP acquired a new stake in 908 Devices in the 4th quarter valued at about $36,000. Finally, Two Sigma Investments LP bought a new position in shares of 908 Devices during the 4th quarter valued at 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.

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