Old Port Advisors Makes New $525,000 Investment in 908 Devices Inc. $MASS

Key Points

• Old Port Advisors made a new investment of approximately $525,000 in 908 Devices Inc., acquiring 73,629 shares during the 2nd quarter, which represents about 0.21% of the company.
• Institutional investors hold 88.06% of 908 Devices’ stock, with notable increases in holdings from AWM Investment Company and ARK Investment Management in Q1.
• The company reported a loss per share of ($0.18) in its latest earnings, missing expectations, and has an average rating of "Buy" from analysts, with a consensus target price of $8.00.

Old Port Advisors bought a new position in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 73,629 shares of the company's stock, valued at approximately $525,000. Old Port Advisors owned approximately 0.21% of 908 Devices as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MASS. AWM Investment Company Inc. raised its holdings in 908 Devices by 210.6% in the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company's stock worth $23,296,000 after purchasing an additional 3,526,000 shares during the period. ARK Investment Management LLC raised its position in shares of 908 Devices by 4.0% in the first quarter. ARK Investment Management LLC now owns 2,899,347 shares of the company's stock valued at $12,989,000 after buying an additional 110,781 shares during the last quarter. First Light Asset Management LLC purchased a new position in 908 Devices in the 1st quarter worth approximately $7,621,000. Invesco Ltd. purchased a new stake in 908 Devices in the 1st quarter valued at $2,910,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of 908 Devices in the first quarter valued at about $2,153,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

Insider Transactions at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 5,000 shares of the business's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the sale, the chief financial officer owned 97,930 shares in the company, valued at $692,365.10. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.70% of the stock is owned by company insiders.

908 Devices Price Performance

Shares of NASDAQ MASS opened at $8.01 on Friday. The stock's 50-day moving average is $6.54 and its two-hundred day moving average is $5.87. 908 Devices Inc. has a 1-year low of $1.81 and a 1-year high of $8.28. The company has a market cap of $287.24 million, a price-to-earnings ratio of -14.83 and a beta of 0.37.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly 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 firm 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. Equities research analysts anticipate that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MASS shares. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research note on Saturday, September 13th. Wall Street Zen raised 908 Devices from a "sell" rating to a "hold" rating in a research report on Monday, September 15th. Leerink Partnrs upgraded 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. Finally, 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. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, 908 Devices currently has an average rating of "Buy" and a consensus target price of $8.00.

908 Devices 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.

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