908 Devices (NASDAQ:MASS) Releases Quarterly Earnings Results, Misses Expectations 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) posted its quarterly earnings results on Tuesday. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02), Zacks reports. 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. 908 Devices updated its FY 2025 guidance to EPS.

908 Devices Stock Down 5.1%

Shares of MASS traded down $0.33 during trading hours on Tuesday, reaching $6.19. 635,662 shares of the company traded hands, compared to its average volume of 1,622,796. The stock has a market capitalization of $221.83 million, a P/E ratio of -11.54 and a beta of 0.37. 908 Devices has a 12-month low of $1.81 and a 12-month high of $8.06. The business has a fifty day moving average price of $6.83 and a 200-day moving average price of $4.88.

Insider Activity

In other 908 Devices news, insider Michael S. Turner sold 7,148 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total value of $53,681.48. Following the sale, the insider directly owned 1,373 shares of the company's stock, valued at approximately $10,311.23. This represents a 83.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 102,930 shares in the company, valued at approximately $728,744.40. The trade was a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,543 shares of company stock valued at $233,890 over the last ninety days. 23.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 908 Devices

An institutional investor recently bought a new position in 908 Devices stock. AQR Capital Management LLC bought a new position in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 81,558 shares of the company's stock, valued at approximately $365,000. AQR Capital Management LLC owned approximately 0.23% of 908 Devices as of its most recent SEC filing. Institutional investors own 88.06% of the company's stock.

Analyst Ratings Changes

MASS has been the subject of a number of recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research note on Tuesday, July 29th. Leerink Partners raised 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target on the stock in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.00.

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.

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