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

Key Points

• 908 Devices has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the company's stock.
• The consensus rating for 908 Devices is currently "Buy" with a price target of $8.00, despite recent earnings that fell short of expectations.
• Insider trading activity reveals that key executives, including CFO Joseph H. Iv Griffith, have sold significant shares recently, indicating a potential decrease in their confidence regarding the stock's near-term performance.

908 Devices (NASDAQ:MASS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

MASS has been the topic of several other research reports. Leerink Partners upgraded shares of 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price objective on the stock in a research note on Tuesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research note on Thursday, August 14th. Finally, Leerink Partnrs upgraded shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $8.00.

908 Devices Stock Performance

908 Devices stock opened at $6.45 on Friday. The firm has a market cap of $231.30 million, a PE ratio of -11.94 and a beta of 0.37. The firm's 50 day moving average price is $6.79 and its two-hundred day moving average price is $5.22. 908 Devices has a twelve month low of $1.81 and a twelve month high of $8.06.

908 Devices (NASDAQ:MASS - Get Free Report) last released 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 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 has set its FY 2025 guidance at EPS. Equities analysts anticipate that 908 Devices will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling at 908 Devices

In related news, 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 of the company's stock, valued at approximately $728,744.40. This represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider directly owned 8,521 shares of the company's stock, valued at approximately $63,992.71. This represents a 65.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,543 shares of company stock worth $233,890. 23.70% of the stock is currently owned by company insiders.

Institutional Trading of 908 Devices

Several large investors have recently modified their holdings of the company. AWM Investment Company Inc. boosted its holdings in shares of 908 Devices by 210.6% during the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company's stock worth $23,296,000 after buying an additional 3,526,000 shares during the period. ARK Investment Management LLC boosted its holdings in shares of 908 Devices by 4.0% during the 1st quarter. ARK Investment Management LLC now owns 2,899,347 shares of the company's stock worth $12,989,000 after buying an additional 110,781 shares during the period. First Light Asset Management LLC bought a new stake in 908 Devices in the 1st quarter valued at $7,621,000. GM Advisory Group LLC bought a new stake in 908 Devices in the 2nd quarter valued at $8,309,000. Finally, Geode Capital Management LLC boosted its holdings in 908 Devices by 11.7% in the 2nd quarter. Geode Capital Management LLC now owns 658,603 shares of the company's stock valued at $4,697,000 after purchasing an additional 68,764 shares during the period. 88.06% of the stock is owned by institutional investors.

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.

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