908 Devices Inc. $MASS Shares Bought by AWM Investment Company Inc.

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 position in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 210.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,199,924 shares of the company's stock after purchasing an additional 3,526,000 shares during the period. 908 Devices accounts for about 3.2% of AWM Investment Company Inc.'s holdings, making the stock its 4th biggest holding. AWM Investment Company Inc. owned 14.55% of 908 Devices worth $23,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. ARK Investment Management LLC lifted its holdings in shares of 908 Devices by 4.0% in the 1st quarter. ARK Investment Management LLC now owns 2,899,347 shares of the company's stock valued at $12,989,000 after purchasing an additional 110,781 shares during the last quarter. First Light Asset Management LLC purchased a new stake in shares of 908 Devices in the 1st quarter valued at about $7,621,000. Invesco Ltd. purchased a new stake in shares of 908 Devices in the 1st quarter valued at about $2,910,000. Essex Investment Management Co. LLC purchased a new stake in shares of 908 Devices in the 1st quarter valued at about $2,153,000. Finally, Charles Schwab Investment Management Inc. increased its position in 908 Devices by 5.2% in the 1st 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 during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at 908 Devices

In other 908 Devices news, insider Michael S. Turner sold 16,082 shares of the 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 transaction, the insider owned 8,521 shares of the company's stock, valued at $63,992.71. This represents a 65.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 24,603 shares of company stock worth $184,755. Corporate insiders own 23.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

908 Devices Stock Up 3.5%

Shares of MASS traded up $0.19 on Monday, reaching $5.63. The stock had a trading volume of 122,010 shares, compared to its average volume of 1,439,012. The firm has a market capitalization of $201.86 million, a PE ratio of -10.39 and a beta of 0.37. The firm has a 50-day moving average of $6.57 and a 200 day moving average of $5.50. 908 Devices Inc. has a twelve month low of $1.81 and a twelve month high of $8.06.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that 908 Devices Inc. will post -1.99 earnings per share 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.