First Light Asset Management LLC Makes New Investment in 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 position in 908 Devices Inc. (NASDAQ:MASS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,701,095 shares of the company's stock, valued at approximately $7,621,000. 908 Devices comprises about 0.9% of First Light Asset Management LLC's investment portfolio, making the stock its 26th largest position. First Light Asset Management LLC owned approximately 4.76% of 908 Devices as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Two Sigma Advisers LP bought a new position in 908 Devices in the 4th quarter worth about $30,000. CWM LLC grew its position in 908 Devices by 541.2% in the 1st quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after purchasing an additional 5,877 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in 908 Devices in the 4th quarter worth about $36,000. Two Sigma Investments LP acquired a new stake in shares of 908 Devices in the 4th quarter worth approximately $42,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of 908 Devices in the 1st quarter worth approximately $45,000. Institutional investors own 88.06% of the company's stock.

Insider Activity at 908 Devices

In other news, insider Michael S. Turner sold 16,082 shares of the stock in a transaction on Monday, June 16th. The shares were 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 in the company, 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 can be accessed through this hyperlink. In the last quarter, insiders have sold 24,603 shares of company stock worth $184,755. Corporate insiders own 23.70% of the company's stock.

908 Devices Stock Performance

Shares of NASDAQ:MASS traded down $0.06 during mid-day trading on Friday, hitting $5.44. The stock had a trading volume of 238,473 shares, compared to its average volume of 236,374. The company has a market cap of $195.08 million, a PE ratio of -10.07 and a beta of 0.37. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $8.06. The company's 50 day moving average is $6.57 and its 200-day moving average is $5.46.

908 Devices (NASDAQ:MASS - Get Free Report) last released 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 return on equity of 24.30% and a negative net margin of 30.54%.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, equities research analysts predict that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MASS. Leerink Partnrs raised shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. Wall Street Zen raised shares of 908 Devices from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 908 Devices in a research note on Saturday, August 30th. Finally, Leerink Partners upgraded shares of 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 target price for the company in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $8.00.

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.