Joseph Iv Griffith Sells 4,292 Shares of 908 Devices (NASDAQ:MASS) Stock

Key Points

• Joseph Iv Griffith, CFO of 908 Devices, sold 4,292 shares on October 3rd for a total of approximately $38,842, resulting in a 4.41% decrease in his position.
• 908 Devices reported quarterly earnings of ($0.18) EPS, missing expectations, with revenue of $4.70 million against estimates of $12.17 million.
• Analysts have given a mixed outlook on the stock, with target prices ranging from $8.00 to $12.00; the current average rating is "Moderate Buy".

908 Devices Inc. (NASDAQ:MASS - Get Free Report) CFO Joseph Iv Griffith sold 4,292 shares of the firm's stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $9.05, for a total transaction of $38,842.60. Following the sale, the chief financial officer directly owned 92,930 shares of the company's stock, valued at approximately $841,016.50. The trade was a 4.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

908 Devices Price Performance

Shares of NASDAQ:MASS traded down $0.27 during midday trading on Monday, reaching $8.81. The company's stock had a trading volume of 334,163 shares, compared to its average volume of 1,336,841. The business's fifty day simple moving average is $6.69 and its 200-day simple moving average is $6.04. 908 Devices Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $9.19. The company has a market capitalization of $315.75 million, a P/E ratio of -16.36 and a beta of 0.46.

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 the consensus estimate of ($0.16) by ($0.02). The company had revenue of $4.70 million for the quarter, compared to analyst estimates of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. 908 Devices has set its FY 2025 guidance at EPS. On average, analysts forecast that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MASS shares. 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 restated a "sell (d-)" rating on shares of 908 Devices in a research report on Saturday, September 27th. Leerink Partnrs raised shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised shares of 908 Devices from a "sell" rating to a "hold" rating in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.00.

Institutional Investors Weigh In On 908 Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of 908 Devices by 453.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company's stock valued at $27,000 after acquiring an additional 3,100 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of 908 Devices in the fourth quarter worth approximately $30,000. CWM LLC boosted its holdings in 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company's stock valued at $31,000 after acquiring an additional 5,877 shares during the period. Two Sigma Investments LP bought a new stake in 908 Devices during the 4th quarter valued at approximately $42,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of 908 Devices in the first quarter worth $45,000. 88.06% of the stock is currently owned by institutional investors.

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.

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