Prescott Group Capital Management L.L.C. Raises Position in 908 Devices Inc. (NASDAQ:MASS)

Key Points

• Prescott Group Capital Management L.L.C. increased its position in 908 Devices Inc. by 26.7% in Q1, owning 190,005 shares valued at $851,000.
• The company's stock has a market capitalization of $264.65 million and has a PE ratio of -13.67, with shares trading between a 52-week low of $1.81 and a high of $8.06.
• 908 Devices reported a quarterly EPS of ($0.22), surpassing the consensus estimate, though it still anticipates a negative EPS of -1.99 for the current fiscal year.

Prescott Group Capital Management L.L.C. grew its position in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 26.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,005 shares of the company's stock after purchasing an additional 40,005 shares during the quarter. Prescott Group Capital Management L.L.C. owned approximately 0.53% of 908 Devices worth $851,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MASS. LPL Financial LLC raised its holdings in shares of 908 Devices by 13.0% in the 4th quarter. LPL Financial LLC now owns 63,287 shares of the company's stock valued at $139,000 after purchasing an additional 7,295 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of 908 Devices in the 4th quarter valued at $34,000. Geode Capital Management LLC raised its holdings in shares of 908 Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 581,300 shares of the company's stock valued at $1,279,000 after purchasing an additional 13,512 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of 908 Devices in the 4th quarter valued at $124,000. Finally, XTX Topco Ltd acquired a new stake in shares of 908 Devices in the 4th quarter valued at $115,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

908 Devices Trading Down 3.4%

Shares of NASDAQ MASS traded down $0.25 during mid-day trading on Tuesday, reaching $7.08. The company had a trading volume of 103,227 shares, compared to its average volume of 1,666,841. The firm has a 50 day simple moving average of $6.64 and a two-hundred day simple moving average of $4.74. The stock has a market cap of $253.86 million, a P/E ratio of -13.07 and a beta of 0.38. 908 Devices Inc. has a 52-week low of $1.81 and a 52-week high of $8.06.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.05. The company had revenue of $11.78 million for the quarter, compared to the consensus estimate of $11.90 million. 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. On average, equities analysts expect that 908 Devices Inc. will post -1.99 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a report on Saturday, July 12th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.33.

Insider Buying and Selling at 908 Devices

In other 908 Devices news, insider Michael S. Turner sold 16,082 shares of 908 Devices stock in a transaction on Monday, June 16th. The shares were sold at an average price of $7.51, for a total value of $120,775.82. Following the transaction, the insider directly owned 8,521 shares in the company, valued at approximately $63,992.71. The trade was a 65.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Spoto acquired 10,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the director owned 62,971 shares of the company's stock, valued at $270,145.59. This trade represents a 18.88% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 31,543 shares of company stock worth $233,890. 23.70% of the stock is owned by company insiders.

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.