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

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for 908 Devices (NASDAQ:MASS), despite conflicting updates from other firms that upgraded the stock to a "strong buy" and "hold" ratings.
• 908 Devices reported a quarterly loss of ($0.18) EPS, missing analyst expectations of ($0.16) EPS, with revenue falling short at $4.70 million compared to the projected $12.17 million.
• Institutional investors own 88.06% of 908 Devices' stock, with notable increases in positions by several investors during the second quarter, indicating growing confidence despite the recent poor earnings report.

908 Devices (NASDAQ:MASS - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on the stock. Leerink Partners raised shares of 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target on the stock in a report on Tuesday, August 5th. Wall Street Zen raised shares of 908 Devices from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Leerink Partnrs raised shares of 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 Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $8.00.

908 Devices Price Performance

NASDAQ:MASS traded down $0.32 on Friday, reaching $5.62. 184,369 shares of the company's stock were exchanged, compared to its average volume of 1,458,962. The firm has a market cap of $201.50 million, a price-to-earnings ratio of -10.44 and a beta of 0.37. 908 Devices has a 52 week low of $1.81 and a 52 week high of $8.06. The stock has a fifty day simple moving average of $6.64 and a 200-day simple moving average of $5.42.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). The business had revenue of $4.70 million for the quarter, compared to the consensus estimate of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. 908 Devices has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that 908 Devices will post -1.99 EPS for the current year.

Insiders Place Their Bets

In related news, insider Michael S. Turner sold 7,148 shares of the firm'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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 24,603 shares of company stock valued at $184,755 over the last quarter. Company insiders own 23.70% of the company's stock.

Institutional Investors Weigh In On 908 Devices

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake 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 acquiring an additional 1,894 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 acquiring an additional 1,985 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its stake in shares of 908 Devices by 49.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company's stock worth $47,000 after acquiring an additional 2,176 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 3,100 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of 908 Devices by 10.8% during the first quarter. American Century Companies Inc. now owns 45,814 shares of the company's stock worth $205,000 after acquiring an additional 4,471 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other 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.