Invesco Ltd. Purchases Shares of 649,630 908 Devices Inc. $MASS

Key Points

• Invesco Ltd. acquired 649,630 shares of 908 Devices Inc. for approximately $2.91 million in the first quarter, representing about 1.82% of the company's total shares.
• Insider trading included sales of shares by CFO Joseph H. Iv Griffith and Michael S. Turner, with reported ownership decreases following transactions in June.
• 908 Devices reported a negative earnings per share of ($0.18) for the last quarter, falling short of analyst expectations, and has an expected EPS of -1.99 for the current year.

Invesco Ltd. bought a new stake in 908 Devices Inc. (NASDAQ:MASS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 649,630 shares of the company's stock, valued at approximately $2,910,000. Invesco Ltd. owned about 1.82% of 908 Devices at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

908 Devices Stock Performance

Shares of NASDAQ:MASS traded down $0.32 during midday trading on Wednesday, hitting $5.63. The company's stock had a trading volume of 195,571 shares, compared to its average volume of 1,459,030. 908 Devices Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $8.06. The stock has a market capitalization of $201.71 million, a price-to-earnings ratio of -10.42 and a beta of 0.37. The stock's 50 day simple moving average is $6.64 and its 200 day simple moving average is $5.42.

908 Devices (NASDAQ:MASS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (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 during the quarter, compared to the consensus estimate of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. As a group, analysts anticipate that 908 Devices Inc. will post -1.99 EPS for the current year.

Insiders Place Their Bets

In other 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 sale, the insider directly owned 1,373 shares of the company's stock, valued at approximately $10,311.23. This represents a 83.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 24,603 shares of company stock valued at $184,755 in the last quarter. Company insiders own 23.70% of the company's stock.

About 908 Devices

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.