908 Devices (NASDAQ:MASS) Upgraded by Wall Street Zen to Hold Rating

Key Points

• 908 Devices has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, while Leerink Partners set a target price of $12.00 after rating it "outperform."
• The company's recent earnings report showed a loss of ($0.18) per share, missing the consensus estimate, with revenue of $4.70 million compared to expectations of $12.17 million.
• Institutional investors hold a significant stake in 908 Devices, owning approximately 88.06% of the company's stock, indicating strong market interest.

Wall Street Zen upgraded shares of 908 Devices (NASDAQ:MASS - Free Report) from a sell rating to a hold rating in a research note issued to investors on Monday.

Several other brokerages have also recently commented on MASS. Leerink Partners upgraded 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 research note on Tuesday, August 5th. Leerink Partnrs upgraded shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research note on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $8.00.

908 Devices Trading Up 7.0%

908 Devices stock traded up $0.48 during mid-day trading on Monday, hitting $7.30. The stock had a trading volume of 761,195 shares, compared to its average volume of 301,811. The firm has a market capitalization of $261.78 million, a P/E ratio of -13.52 and a beta of 0.37. The firm's 50 day moving average is $6.43 and its 200 day moving average is $5.70. 908 Devices has a one year low of $1.81 and a one year high of $8.06.

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 the consensus estimate 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%. 908 Devices has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that 908 Devices will post -1.99 earnings per share for the current year.

Institutional Trading of 908 Devices

Several hedge funds have recently made changes to their positions in MASS. Nisa Investment Advisors LLC raised its position 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 valued at $27,000 after buying an additional 3,100 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in 908 Devices in the 4th quarter worth about $30,000. CWM LLC raised its position in 908 Devices by 541.2% in the 1st quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after purchasing an additional 5,877 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in 908 Devices in the 4th quarter worth about $36,000. Finally, Two Sigma Investments LP purchased a new stake in 908 Devices in the 4th quarter worth about $42,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.