908 Devices (NASDAQ:MASS) Rating Increased to Outperform at Leerink Partners

Key Points

• 908 Devices has been upgraded from a "market perform" to an "outperform" rating by Leerink Partners, with a price target of $12.00, suggesting a potential upside of 88.41% from its previous closing price.
• The company reported an earnings miss with a EPS of ($0.18), falling short of the consensus estimate of ($0.16) by $0.02.
• Despite a negative net margin of 28.80%, institutional investors hold 88.06% of the stock, indicating strong support from larger shareholders.

908 Devices (NASDAQ:MASS - Get Free Report) was upgraded by investment analysts at Leerink Partners from a "market perform" rating to an "outperform" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a $12.00 price target on the stock. Leerink Partners' price target points to a potential upside of 89.57% from the company's current price.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research note on Tuesday, July 29th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $8.00.

908 Devices Stock Down 1.4%

908 Devices stock traded down $0.09 during mid-day trading on Tuesday, hitting $6.33. 194,319 shares of the company's stock traded hands, compared to its average volume of 301,155. 908 Devices has a one year low of $1.81 and a one year high of $8.06. The firm has a 50 day moving average price of $6.88 and a 200 day moving average price of $4.97. The company has a market cap of $226.99 million, a PE ratio of -11.72 and a beta of 0.37.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). The firm had revenue of $4.70 million during 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, analysts expect that 908 Devices will post -1.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark Spoto acquired 10,000 shares of 908 Devices stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $4.29 per share, with a total value of $42,900.00. Following the acquisition, the director owned 62,971 shares in the company, valued at $270,145.59. This represents a 18.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael S. Turner sold 7,148 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total value of $53,681.48. Following the transaction, the insider directly owned 1,373 shares in the company, valued at approximately $10,311.23. This represents a 83.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,543 shares of company stock worth $233,890. Company insiders own 23.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. AWM Investment Company Inc. increased its holdings in 908 Devices by 210.6% during the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company's stock worth $23,296,000 after purchasing an additional 3,526,000 shares in the last quarter. First Light Asset Management LLC bought a new position in 908 Devices during the 1st quarter worth about $7,621,000. Invesco Ltd. bought a new position in 908 Devices during the 1st quarter worth about $2,910,000. Essex Investment Management Co. LLC bought a new position in 908 Devices during the 1st quarter worth about $2,153,000. Finally, First Eagle Investment Management LLC bought a new position in 908 Devices during the 2nd quarter worth about $1,906,000. Institutional investors and hedge funds own 88.06% of the company's stock.

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.