908 Devices (NASDAQ:MASS) Downgraded by Wall Street Zen to "Sell"

Key Points

• 908 Devices has been downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen, amidst mixed analyst ratings.
• The company's recent quarterly earnings report showed a loss of ($0.18) EPS, missing expectations, and revenue significantly below consensus estimates.
• Insider trading activity noted a decrease in share ownership, with CFO Joseph H. Iv Griffith selling 6,940 shares recently, reflecting a trend of insiders selling stock in the company.

908 Devices (NASDAQ:MASS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other equities analysts have also weighed in on MASS. Leerink Partnrs raised shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research report on Tuesday, July 29th. Finally, Leerink Partners raised shares of 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. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.00.

908 Devices Trading Down 1.4%

NASDAQ MASS opened at $6.33 on Friday. The firm's fifty day moving average price is $6.88 and its two-hundred day moving average price is $4.95. 908 Devices has a 1 year low of $1.81 and a 1 year high of $8.06. The firm has a market capitalization of $226.99 million, a P/E ratio of -11.72 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 (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm 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%. On average, research analysts anticipate that 908 Devices will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $49,135.20. Following the transaction, the chief financial officer directly owned 102,930 shares of the company's stock, valued at approximately $728,744.40. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael S. Turner sold 16,082 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $7.51, for a total transaction of $120,775.82. Following the transaction, the insider directly owned 8,521 shares in the company, valued at approximately $63,992.71. This represents a 65.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,543 shares of company stock valued at $233,890. 23.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On 908 Devices

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in 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 buying an additional 3,100 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in 908 Devices during the fourth quarter worth about $30,000. CWM LLC grew its stake in 908 Devices by 541.2% during the first quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after buying an additional 5,877 shares in the last quarter. Prudential Financial Inc. acquired a new stake in 908 Devices during the fourth quarter worth about $34,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in 908 Devices during the fourth quarter worth about $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.

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