908 Devices (NASDAQ:MASS) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• 908 Devices reported a quarterly earnings per share (EPS) of ($0.18), missing the analyst consensus estimate of ($0.16) by $0.02.
• The company's stock fell by 5.1% to $6.19 following the earnings announcement, with trading volume significantly lower than its average.
• In recent insider trading activity, insiders sold over 31,000 shares of the company, indicating potential concerns about its outlook.

908 Devices (NASDAQ:MASS - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02), Zacks reports. The company had revenue of $4.70 million for the quarter, compared to analyst estimates of $12.17 million. 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. 908 Devices updated its FY 2025 guidance to EPS.

908 Devices Price Performance

Shares of NASDAQ:MASS traded down $0.09 during trading on Friday, reaching $6.33. The stock had a trading volume of 194,319 shares, compared to its average volume of 301,155. 908 Devices has a 52 week low of $1.81 and a 52 week high of $8.06. The business's 50-day moving average price is $6.88 and its 200 day moving average price is $4.97. The stock has a market capitalization of $226.99 million, a PE ratio of -11.72 and a beta of 0.37.

Insider Activity

In other news, insider Michael S. Turner sold 16,082 shares of 908 Devices stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $7.51, for a total value of $120,775.82. Following the completion of the transaction, the insider owned 8,521 shares in the company, valued at approximately $63,992.71. The trade was a 65.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $7.08, for a total transaction of $49,135.20. Following the completion of the transaction, the chief financial officer owned 102,930 shares of the company's stock, valued at $728,744.40. This trade represents a 6.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,543 shares of company stock worth $233,890. Insiders own 23.70% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in 908 Devices stock. AQR Capital Management LLC acquired a new position in 908 Devices Inc. (NASDAQ:MASS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 81,558 shares of the company's stock, valued at approximately $365,000. AQR Capital Management LLC owned about 0.23% of 908 Devices at the end of the most recent reporting period. Hedge funds and other institutional investors own 88.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MASS shares. Leerink Partners raised 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price objective on the stock in a report on Tuesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a report on Tuesday, July 29th. Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Wall Street Zen downgraded 908 Devices from a "hold" rating to a "sell" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $8.00.

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.