908 Devices (NASDAQ:MASS) Stock Rating Upgraded by 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 equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Friday.

Several other brokerages also recently weighed in on MASS. 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 note on Tuesday, August 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat.com, 908 Devices has a consensus rating of "Buy" and a consensus target price of $8.00.

908 Devices Stock Performance

NASDAQ MASS traded down $0.04 during trading hours on Friday, hitting $6.26. The company had a trading volume of 188,037 shares, compared to its average volume of 284,639. 908 Devices has a 1-year low of $1.81 and a 1-year high of $8.06. The company has a market cap of $224.48 million, a PE ratio of -11.59 and a beta of 0.37. The business has a 50 day moving average of $6.69 and a 200-day moving average of $5.33.

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 (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. The company had revenue of $4.70 million during the quarter, compared to analyst estimates of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. Sell-side analysts expect that 908 Devices will post -1.99 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Michael S. Turner sold 16,082 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the completion of the transaction, the insider directly owned 8,521 shares of the company's stock, valued at $63,992.71. This represents a 65.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $7.08, for a total transaction of $49,135.20. Following the transaction, the chief financial officer directly owned 102,930 shares of the company's stock, valued at $728,744.40. This represents 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 three months. 23.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MASS. LPL Financial LLC increased its holdings in 908 Devices by 13.0% in the fourth quarter. LPL Financial LLC now owns 63,287 shares of the company's stock valued at $139,000 after buying an additional 7,295 shares in the last quarter. Geode Capital Management LLC increased its holdings in 908 Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 581,300 shares of the company's stock valued at $1,279,000 after buying an additional 13,512 shares in the last quarter. Bank of Montreal Can purchased a new position in 908 Devices in the fourth quarter valued at about $124,000. XTX Topco Ltd purchased a new position in 908 Devices in the fourth quarter valued at about $115,000. Finally, Marshall Wace LLP purchased a new position in 908 Devices in the fourth quarter valued at about $85,000. 88.06% of the stock is owned by hedge funds and other 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.