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

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for 908 Devices (NASDAQ:MASS), as the stock continues to face negative analyst sentiment.
• The company's most recent earnings report showed a loss of ($0.18) EPS, falling short of analysts' expectations and revealing only $4.70 million in revenue compared to a consensus estimate of $12.17 million.
• Despite mixed ratings from various analysts, the consensus rating for 908 Devices is a "Moderate Buy" with an average price target of $8.00, reflecting potential upside in the stock.

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

A number of other analysts have also recently issued reports on the stock. Wall Street Zen cut shares of 908 Devices from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Leerink Partners upgraded 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target for the company in a research note on Tuesday, August 5th. Finally, Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $8.00.

908 Devices Stock Up 0.3%

MASS stock opened at $7.07 on Thursday. 908 Devices has a twelve month low of $1.81 and a twelve month high of $8.06. The stock has a market cap of $253.53 million, a P/E ratio of -13.09 and a beta of 0.37. The business's 50-day moving average price is $6.90 and its 200-day moving average price is $5.06.

908 Devices (NASDAQ:MASS - Get Free Report) last released its 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). 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 for the quarter, compared to the consensus estimate of $12.17 million. On average, equities research analysts expect that 908 Devices will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at 908 Devices

In other news, CFO Joseph H. Iv Griffith sold 6,940 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $7.08, for a total transaction of $49,135.20. Following the completion of the transaction, the chief financial officer owned 102,930 shares in the company, valued at $728,744.40. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael S. Turner sold 16,082 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $7.51, for a total value of $120,775.82. Following the completion of the sale, the insider owned 8,521 shares in the company, valued at $63,992.71. This represents a 65.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,543 shares of company stock worth $233,890 in the last three months. Insiders own 23.70% of the company's stock.

Hedge Funds Weigh In On 908 Devices

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of 908 Devices by 190.9% during the 4th quarter. Bank of America Corp DE now owns 94,753 shares of the company's stock worth $208,000 after acquiring an additional 62,179 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in 908 Devices in the first quarter worth $45,000. Geode Capital Management LLC raised its stake in 908 Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 581,300 shares of the company's stock valued at $1,279,000 after purchasing an additional 13,512 shares in the last quarter. Northern Trust Corp lifted its position in 908 Devices by 7.5% during the fourth quarter. Northern Trust Corp now owns 200,764 shares of the company's stock valued at $442,000 after purchasing an additional 14,087 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of 908 Devices by 32.2% in the 4th quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock worth $46,000 after buying an additional 5,112 shares in the last quarter. Hedge funds and other 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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