908 Devices (NASDAQ:MASS) Upgraded to "Hold" at Wall Street Zen

Key Points

• 908 Devices has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, while Leerink Partners has elevated it to an "outperform" rating with a price target of $12.00.
• The company reported earnings of ($0.18) per share, missing analysts' estimates, with revenue of $4.70 million compared to expected $12.17 million.
• Insiders have sold over 31,500 shares of the company's stock recently, contributing to changes in the ownership structure, as corporate insiders hold 23.70% of the shares.

Wall Street Zen upgraded shares of 908 Devices (NASDAQ:MASS - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other research analysts have also recently issued reports on the stock. Leerink Partners upgraded shares of 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 target price for the company 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 report on Tuesday, August 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $8.00.

908 Devices Stock Down 2.4%

MASS traded down $0.13 during midday trading on Friday, reaching $5.39. 37,422 shares of the company's stock were exchanged, compared to its average volume of 1,451,592. The firm has a market capitalization of $193.29 million, a price-to-earnings ratio of -10.01 and a beta of 0.37. 908 Devices has a one year low of $1.81 and a one year high of $8.06. The business has a 50-day simple moving average of $6.62 and a two-hundred day simple moving average of $5.42.

908 Devices (NASDAQ:MASS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%.The business had revenue of $4.70 million for the quarter, compared to the consensus estimate of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that 908 Devices will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other 908 Devices news, insider Michael S. Turner sold 7,148 shares of 908 Devices stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total transaction of $53,681.48. Following the completion of the sale, the insider owned 1,373 shares of the company's stock, valued at approximately $10,311.23. The trade was a 83.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 24,603 shares of company stock worth $184,755. 23.70% of the stock is currently owned by insiders.

Institutional Trading of 908 Devices

A number of institutional investors have recently bought and sold shares of MASS. Nisa Investment Advisors LLC grew its holdings in 908 Devices by 453.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company's stock worth $27,000 after acquiring an additional 3,100 shares during the period. Two Sigma Advisers LP acquired a new stake in 908 Devices during the 4th quarter worth $30,000. CWM LLC grew its holdings in 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 acquiring an additional 5,877 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in 908 Devices during the 4th quarter worth $36,000. Finally, Two Sigma Investments LP acquired a new stake in 908 Devices during the 4th quarter worth $42,000. Institutional investors and hedge funds own 88.06% of the company's stock.

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.