908 Devices Inc. $MASS Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly reduced its stake in 908 Devices Inc. by 79.2%, leaving it with 20,670 shares valued at approximately $93,000.
• Despite some institutional sell-offs, a few investors, including Charles Schwab Investment Management, increased their positions in 908 Devices, indicating continued interest in the company.
• Recent analyst ratings on 908 Devices have fluctuated, with some raising their ratings to "hold" and others reiterating a "sell", highlighting mixed sentiment among analysts regarding the stock.

Deutsche Bank AG lowered its stake in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 79.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,670 shares of the company's stock after selling 78,569 shares during the quarter. Deutsche Bank AG owned 0.06% of 908 Devices worth $93,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of 908 Devices in the 4th quarter worth about $85,000. Stifel Financial Corp bought a new position in shares of 908 Devices in the fourth quarter worth approximately $52,000. Hsbc Holdings PLC grew its position in 908 Devices by 32.2% during the fourth quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock valued at $46,000 after acquiring an additional 5,112 shares during the last quarter. Northern Trust Corp grew its position in 908 Devices by 7.5% during the fourth quarter. Northern Trust Corp now owns 200,764 shares of the company's stock valued at $442,000 after acquiring an additional 14,087 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of 908 Devices by 118.9% during the fourth quarter. Jane Street Group LLC now owns 113,890 shares of the company's stock valued at $251,000 after purchasing an additional 61,851 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Wall Street Analysts Forecast Growth

MASS has been the subject of a number of research reports. Leerink Partners upgraded 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price objective for the company in a report on Tuesday, August 5th. Wall Street Zen raised 908 Devices from a "sell" rating to a "hold" rating in a research report on Saturday. Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a report on Saturday. One 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, 908 Devices presently has a consensus rating of "Buy" and a consensus price target of $8.00.

Insider Buying and Selling at 908 Devices

In other news, insider Michael S. Turner sold 16,082 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $7.51, for a total value of $120,775.82. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 24,603 shares of company stock valued at $184,755 over the last quarter. 23.70% of the stock is currently owned by corporate insiders.

908 Devices Stock Performance

908 Devices stock traded down $0.42 during mid-day trading on Wednesday, hitting $5.52. The company's stock had a trading volume of 374,409 shares, compared to its average volume of 262,340. 908 Devices Inc. has a one year low of $1.81 and a one year high of $8.06. The stock has a market cap of $197.95 million, a PE ratio of -10.22 and a beta of 0.37. The company has a 50 day moving average of $6.62 and a 200-day moving average of $5.42.

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 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 company had revenue of $4.70 million for the quarter, compared to analysts' expectations of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

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.