First Light Asset Management LLC Purchases Shares of 1,701,095 908 Devices Inc. $MASS

Key Points

• First Light Asset Management LLC has made a new investment of approximately $7.62 million in 908 Devices Inc., acquiring 1,701,095 shares during Q1.
• Institutional investors own 88.06% of 908 Devices, with recent investments from firms like CWM LLC and Two Sigma.
• 908 Devices reported a quarterly loss with revenue of $4.7 million, significantly below analyst estimates of $12.17 million, and has a projected EPS of -1.99 for the current year.

First Light Asset Management LLC bought a new stake in 908 Devices Inc. (NASDAQ:MASS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,701,095 shares of the company's stock, valued at approximately $7,621,000. 908 Devices comprises 0.9% of First Light Asset Management LLC's investment portfolio, making the stock its 26th biggest position. First Light Asset Management LLC owned about 4.76% of 908 Devices as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in 908 Devices by 190.9% in the 4th quarter. Bank of America Corp DE now owns 94,753 shares of the company's stock valued at $208,000 after purchasing an additional 62,179 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in 908 Devices in the 1st quarter valued at about $45,000. Northern Trust Corp lifted its stake in shares of 908 Devices by 7.5% in the 4th quarter. Northern Trust Corp now owns 200,764 shares of the company's stock valued at $442,000 after purchasing an additional 14,087 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of 908 Devices by 32.2% in the 4th quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock valued at $46,000 after purchasing an additional 5,112 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of 908 Devices in the 4th quarter valued at $42,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

908 Devices Trading Down 1.1%

MASS traded down $0.06 during trading hours on Friday, hitting $5.44. 238,473 shares of the company's stock were exchanged, compared to its average volume of 236,374. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $8.06. The firm has a 50 day moving average of $6.57 and a 200 day moving average of $5.48. The firm has a market cap of $195.08 million, a P/E ratio of -10.07 and a beta of 0.37.

908 Devices (NASDAQ:MASS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share 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 business 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. As a group, research analysts expect that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MASS shares. Wall Street Zen lowered 908 Devices from a "hold" rating to a "sell" rating in a research note on Sunday. Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a research note on Saturday, August 30th. Finally, Leerink Partners raised 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target on the stock 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $8.00.

Insider Transactions at 908 Devices

In other 908 Devices news, insider Michael S. Turner sold 7,148 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total value of $53,681.48. Following the sale, the insider owned 1,373 shares of the company's stock, valued at $10,311.23. This trade represents a 83.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 24,603 shares of company stock valued at $184,755. 23.70% of the stock is owned by company insiders.

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.