908 Devices (NASDAQ:MASS) Earns "Sell (D-)" Rating from Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of 908 Devices (NASDAQ:MASS - Free Report) in a research report sent to investors on Wednesday morning,Weiss Ratings reports.

908 Devices Stock Performance

MASS traded up $0.12 during trading on Wednesday, hitting $7.31. The stock had a trading volume of 365,162 shares, compared to its average volume of 1,023,588. The company has a market capitalization of $262.14 million, a PE ratio of -4.13 and a beta of 0.29. 908 Devices has a twelve month low of $1.81 and a twelve month high of $7.38. The stock has a 50 day simple moving average of $5.37 and a two-hundred day simple moving average of $3.70.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.05. The business had revenue of $11.78 million during the quarter, compared to the consensus estimate of $11.90 million. 908 Devices had a negative net margin of 109.11% and a negative return on equity of 24.60%. On average, equities research analysts anticipate that 908 Devices will post -1.99 EPS for the current year.

Insider Activity at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 6,940 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were 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 now owns 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 Securities & Exchange Commission, which is available at this link. Also, Director Mark Spoto acquired 10,000 shares of 908 Devices stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average price of $4.29 per share, with a total value of $42,900.00. Following the transaction, the director now owns 62,971 shares of the company's stock, valued at $270,145.59. This trade represents a 18.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 908 Devices

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC lifted its position in shares of 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company's stock valued at $31,000 after acquiring an additional 5,877 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of 908 Devices during the 1st quarter worth approximately $45,000. Two Sigma Advisers LP purchased a new position in shares of 908 Devices during the 4th quarter worth approximately $30,000. Prudential Financial Inc. purchased a new position in shares of 908 Devices during the 4th quarter worth approximately $34,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of 908 Devices during the 4th quarter worth approximately $36,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.