Weiss Ratings Reaffirms "Sell (D-)" Rating for 908 Devices (NASDAQ:MASS)

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 research analysts at Weiss Ratings in a report issued on Thursday,Weiss Ratings reports.

Several other research firms have also commented on MASS. Leerink Partners upgraded 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price objective 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 note on Tuesday, August 5th. Finally, Wall Street Zen downgraded 908 Devices from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.00.

908 Devices Stock Down 2.9%

Shares of MASS traded down $0.18 during mid-day trading on Thursday, hitting $6.09. 40,473 shares of the company traded hands, compared to its average volume of 1,537,490. 908 Devices has a 1-year low of $1.81 and a 1-year high of $8.06. The company has a market capitalization of $218.39 million, a PE ratio of -11.32 and a beta of 0.37. The business has a 50 day moving average of $6.88 and a 200 day moving average of $5.15.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $4.70 million during the quarter, compared to analyst estimates of $12.17 million. As a group, research analysts expect that 908 Devices will post -1.99 EPS for the current fiscal year.

Insider Activity at 908 Devices

In other news, CFO Joseph H. Iv Griffith sold 6,940 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $7.08, for a total value of $49,135.20. Following the completion of the sale, the chief financial officer directly owned 102,930 shares in the company, valued at approximately $728,744.40. The trade was a 6.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael S. Turner sold 16,082 shares of the stock in a transaction on 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 transaction, the insider directly owned 8,521 shares of the company's stock, valued at approximately $63,992.71. The trade was a 65.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,543 shares of company stock worth $233,890 over the last three months. 23.70% of the stock is currently owned by corporate insiders.

Institutional Trading of 908 Devices

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

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.