908 Devices (NASDAQ:MASS) Receives Sell (D-) Rating from Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of 908 Devices (NASDAQ:MASS - Free Report) in a report released on Saturday,Weiss Ratings reports.

908 Devices Stock Down 3.2%

Shares of MASS traded down $0.22 during trading hours on Friday, reaching $6.72. The stock had a trading volume of 215,881 shares, compared to its average volume of 1,055,684. 908 Devices has a 52 week low of $1.81 and a 52 week high of $8.06. The firm has a 50-day moving average of $6.23 and a 200 day moving average of $4.37. The company has a market cap of $240.98 million, a P/E ratio of -12.44 and a beta of 0.38.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.05. 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. The business had revenue of $11.78 million during the quarter, compared to analysts' expectations of $11.90 million. As a group, equities analysts expect that 908 Devices will post -1.99 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark Spoto bought 10,000 shares of 908 Devices stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average cost of $4.29 per share, with a total value of $42,900.00. Following the purchase, the director owned 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael S. Turner sold 16,082 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $7.51, for a total transaction of $120,775.82. Following the completion of the transaction, the insider directly owned 8,521 shares of the company's stock, valued at approximately $63,992.71. The trade was a 65.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,543 shares of company stock valued at $233,890. Company insiders own 23.70% of the company's stock.

Hedge Funds Weigh In On 908 Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after buying an additional 5,877 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of 908 Devices during the 1st quarter worth about $45,000. Two Sigma Advisers LP acquired a new position in shares of 908 Devices during the 4th quarter worth about $30,000. Prudential Financial Inc. acquired a new position in shares of 908 Devices during the 4th quarter worth about $34,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of 908 Devices during the 4th quarter worth about $36,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.