908 Devices Inc. $MASS is AWM Investment Company Inc.'s 4th Largest Position

Key Points

• AWM Investment Company Inc. increased its holdings in 908 Devices by 210.6% during the first quarter, acquiring a total of 5,199,924 shares, making it the fund's fourth largest position.
• 908 Devices reported a loss of ($0.18) earnings per share for the last quarter, falling short of analyst expectations and highlighting a negative net margin of 30.54%.
• Institutional ownership of 908 Devices is high, with 88.06% of its stock held by institutional investors and hedge funds, indicating strong interest in the company.

AWM Investment Company Inc. increased its holdings in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 210.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,199,924 shares of the company's stock after acquiring an additional 3,526,000 shares during the period. 908 Devices makes up about 3.2% of AWM Investment Company Inc.'s holdings, making the stock its 4th largest holding. AWM Investment Company Inc. owned approximately 14.55% of 908 Devices worth $23,296,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MASS. First Light Asset Management LLC purchased a new position in 908 Devices in the first quarter worth approximately $7,621,000. Invesco Ltd. purchased a new position in 908 Devices in the first quarter worth approximately $2,910,000. Essex Investment Management Co. LLC purchased a new position in 908 Devices in the first quarter worth approximately $2,153,000. Legato Capital Management LLC purchased a new position in 908 Devices in the first quarter worth approximately $638,000. Finally, ARK Investment Management LLC grew its position in 908 Devices by 4.0% in the first quarter. ARK Investment Management LLC now owns 2,899,347 shares of the company's stock worth $12,989,000 after acquiring an additional 110,781 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Michael S. Turner sold 16,082 shares of the business'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 completion of the transaction, the insider directly owned 8,521 shares of the company's stock, valued at $63,992.71. The trade was a 65.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 24,603 shares of company stock worth $184,755. Insiders own 23.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MASS shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research report on Saturday, August 30th. Wall Street Zen cut 908 Devices from a "hold" rating to a "sell" rating in a research note on Sunday. Leerink Partners raised 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price objective for the company in a research note on Tuesday, August 5th. Finally, Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $8.00.

908 Devices Trading Down 1.1%

MASS traded down $0.06 on Friday, hitting $5.44. 238,473 shares of the company were exchanged, compared to its average volume of 236,374. 908 Devices Inc. has a twelve month low of $1.81 and a twelve month high of $8.06. The company has a market cap of $195.08 million, a price-to-earnings ratio of -10.07 and a beta of 0.37. The firm has a 50-day moving average price of $6.57 and a two-hundred day moving average price of $5.48.

908 Devices (NASDAQ:MASS - Get Free Report) last released its 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). 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 analyst estimates of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. Equities 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.