Deutsche Bank AG Lowers Holdings in 908 Devices Inc. $MASS

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 shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) by 79.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of 908 Devices by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 212,230 shares of the company's stock valued at $951,000 after acquiring an additional 10,462 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in 908 Devices by 115.6% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,862 shares of the company's stock worth $102,000 after purchasing an additional 12,258 shares during the period. Essex Investment Management Co. LLC purchased a new stake in 908 Devices during the 1st quarter worth about $2,153,000. ARK Investment Management LLC increased its holdings in 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 purchasing an additional 110,781 shares during the period. Finally, Prescott Group Capital Management L.L.C. increased its holdings in 908 Devices by 26.7% during the 1st quarter. Prescott Group Capital Management L.L.C. now owns 190,005 shares of the company's stock worth $851,000 after purchasing an additional 40,005 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael S. Turner sold 7,148 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total value of $53,681.48. Following the completion of the sale, the insider owned 1,373 shares in the company, valued at $10,311.23. This represents a 83.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 24,603 shares of company stock valued at $184,755. 23.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MASS has been the topic of several analyst reports. Leerink Partnrs raised shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a report on Saturday, August 30th. Wall Street Zen raised shares of 908 Devices from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Leerink Partners raised shares of 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price objective for the company in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $8.00.

908 Devices Trading Down 1.1%

NASDAQ:MASS traded down $0.06 during midday trading on Friday, hitting $5.44. 238,473 shares of the company were exchanged, compared to its average volume of 236,374. The company has a fifty day simple moving average of $6.57 and a 200 day simple moving average of $5.48. 908 Devices Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $8.06. The company has a market capitalization of $195.08 million, a PE ratio of -10.07 and a beta of 0.37.

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 the consensus estimate of ($0.16) by ($0.02). The company had revenue of $4.70 million for the quarter, compared to analyst estimates of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. 908 Devices has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that 908 Devices Inc. will post -1.99 EPS for the current 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.