908 Devices (NASDAQ:MASS) CFO Sells $35,350.00 in Stock

Key Points

• 908 Devices CFO, Joseph Iv Griffith, sold 5,000 shares of the company's stock for a total of $35,350, which decreased his position by 4.86% to 97,930 shares.
• The company reported a loss of ($0.18) earnings per share for the last quarter, missing analysts' estimates significantly, with actual revenue at $4.70 million compared to the expected $12.17 million.
• Despite recent challenges, analysts have mixed ratings on the stock, with one upgrade to a "strong-buy" and an average consensus price target of $8.00.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) CFO Joseph Iv Griffith sold 5,000 shares of the business's stock in a transaction on Friday, September 19th. The shares were sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the sale, the chief financial officer owned 97,930 shares in the company, valued at $692,365.10. This represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

908 Devices Trading Down 0.9%

Shares of 908 Devices stock traded down $0.07 during trading on Tuesday, reaching $7.48. The stock had a trading volume of 120,653 shares, compared to its average volume of 1,378,115. 908 Devices Inc. has a 52 week low of $1.81 and a 52 week high of $8.06. The stock has a fifty day moving average price of $6.45 and a two-hundred day moving average price of $5.77. The company has a market capitalization of $268.23 million, a price-to-earnings ratio of -13.85 and a beta of 0.37.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $12.17 million. 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. 908 Devices has set its FY 2025 guidance at EPS. On average, equities analysts forecast that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

Hedge Funds Weigh In On 908 Devices

Large investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its position in 908 Devices by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 36,416 shares of the company's stock valued at $260,000 after buying an additional 1,894 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 908 Devices by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company's stock valued at $233,000 after buying an additional 1,985 shares during the period. ANTIPODES PARTNERS Ltd raised its holdings in 908 Devices by 49.7% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company's stock worth $47,000 after acquiring an additional 2,176 shares during the period. Nisa Investment Advisors LLC increased 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 worth $27,000 after purchasing an additional 3,100 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of 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 period. Institutional investors and hedge funds own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

MASS has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a report on Saturday, September 13th. Leerink Partnrs upgraded 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. Leerink Partners raised 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price objective for the company in a report on Tuesday, August 5th. Finally, Wall Street Zen raised 908 Devices from a "sell" rating to a "hold" rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $8.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.