908 Devices (NASDAQ:MASS) Trading 5% Higher - What's Next?

Key Points

• 908 Devices Inc. (NASDAQ:MASS) stock price rose by 5% during mid-day trading, reaching $9.34 after closing at $8.56.
• Analysts have a consensus rating of "Moderate Buy" on the stock, with price target increases from various firms, while Weiss Ratings reaffirmed a "sell" rating.
• The company reported a quarterly earnings miss, with earnings per share of ($0.18), and revenue of $4.70 million compared to the consensus estimate of $12.17 million.

908 Devices Inc. (NASDAQ:MASS - Get Free Report) traded up 5% during mid-day trading on Monday . The stock traded as high as $9.34 and last traded at $8.99. 405,064 shares traded hands during trading, a decline of 1% from the average session volume of 409,485 shares. The stock had previously closed at $8.56.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a research report on Wednesday, October 8th. Leerink Partners raised 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 report on Tuesday, August 5th. Wall Street Zen raised shares of 908 Devices from a "sell" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Leerink Partnrs raised shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $8.00.

908 Devices Price Performance

The company has a market capitalization of $322.38 million, a P/E ratio of -16.65 and a beta of 0.46. The company's 50-day moving average price is $7.13 and its two-hundred day moving average price is $6.39.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.70 million during the quarter, compared to the consensus estimate 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 has set its FY 2025 guidance at EPS. On average, analysts anticipate that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 5,000 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $7.07, for a total value of $35,350.00. Following the transaction, the chief financial officer directly owned 97,930 shares in the company, valued at approximately $692,365.10. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 10,000 shares of company stock valued at $80,593 over the last 90 days. 23.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 908 Devices

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its stake in 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company's stock worth $260,000 after buying an additional 1,894 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 908 Devices by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company's stock worth $233,000 after buying an additional 1,985 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in 908 Devices by 49.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company's stock worth $47,000 after buying an additional 2,176 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in 908 Devices by 453.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company's stock worth $27,000 after buying an additional 3,100 shares in the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in 908 Devices during the third quarter worth about $28,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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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