908 Devices (NASDAQ:MASS) Given "Sell (D-)" Rating at Weiss Ratings

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

908 Devices Trading Down 0.1%

Shares of MASS opened at $6.73 on Friday. 908 Devices has a 12 month low of $1.81 and a 12 month high of $8.06. The stock has a fifty day moving average price of $5.94 and a 200-day moving average price of $4.01. The firm has a market cap of $241.34 million, a PE ratio of -12.46 and a beta of 0.29.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) earnings per share 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 return on equity of 27.10% and a negative net margin of 28.80%. As a group, research analysts forecast that 908 Devices will post -1.99 EPS for the current year.

Insider Buying and Selling

In other 908 Devices 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 transaction, the chief financial officer now directly owns 102,930 shares of the company's stock, valued at approximately $728,744.40. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Spoto acquired 10,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the purchase, the director now directly owns 62,971 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 31,543 shares of company stock worth $233,890. 23.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On 908 Devices

Several institutional investors have recently made changes to their positions in MASS. Prescott Group Capital Management L.L.C. acquired a new stake in 908 Devices during the fourth quarter valued at $330,000. LPL Financial LLC boosted its stake in shares of 908 Devices by 13.0% during the 4th quarter. LPL Financial LLC now owns 63,287 shares of the company's stock worth $139,000 after acquiring an additional 7,295 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of 908 Devices during the 4th quarter valued at about $34,000. Geode Capital Management LLC increased its stake in shares of 908 Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 581,300 shares of the company's stock valued at $1,279,000 after purchasing an additional 13,512 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in 908 Devices in the 4th quarter worth about $124,000. 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.

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