908 Devices Inc. (NASDAQ:MASS) to Post Q2 2024 Earnings of ($0.34) Per Share, Leerink Partnrs Forecasts

908 Devices Inc. (NASDAQ:MASS - Free Report) - Equities research analysts at Leerink Partnrs dropped their Q2 2024 earnings per share (EPS) estimates for 908 Devices in a research note issued on Tuesday, April 30th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings of ($0.34) per share for the quarter, down from their previous estimate of ($0.30). The consensus estimate for 908 Devices' current full-year earnings is ($1.27) per share. Leerink Partnrs also issued estimates for 908 Devices' Q3 2024 earnings at ($0.22) EPS, Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($1.05) EPS and FY2025 earnings at ($0.94) EPS.

908 Devices Price Performance

MASS stock traded down $0.02 during mid-day trading on Friday, reaching $5.65. The company had a trading volume of 254,009 shares, compared to its average volume of 177,682. The company has a market capitalization of $186.34 million, a price-to-earnings ratio of -5.46 and a beta of 1.02. 908 Devices has a 52 week low of $4.85 and a 52 week high of $12.51. The stock has a 50 day simple moving average of $6.54 and a two-hundred day simple moving average of $7.06.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.03. The firm had revenue of $9.99 million for the quarter, compared to the consensus estimate of $9.29 million. 908 Devices had a negative return on equity of 20.47% and a negative net margin of 68.57%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS.

Institutional Investors Weigh In On 908 Devices

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of 908 Devices in the fourth quarter valued at about $133,000. Values First Advisors Inc. raised its holdings in 908 Devices by 24.5% in the 3rd quarter. Values First Advisors Inc. now owns 16,726 shares of the company's stock valued at $111,000 after acquiring an additional 3,294 shares during the period. Arete Wealth Advisors LLC lifted its position in 908 Devices by 35.8% during the third quarter. Arete Wealth Advisors LLC now owns 22,758 shares of the company's stock worth $152,000 after acquiring an additional 5,997 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of 908 Devices by 15.3% during the third quarter. New York State Common Retirement Fund now owns 70,525 shares of the company's stock worth $470,000 after acquiring an additional 9,346 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 908 Devices by 11.1% during the third quarter. Bank of New York Mellon Corp now owns 93,775 shares of the company's stock worth $625,000 after acquiring an additional 9,393 shares during the period. 88.06% of the stock is 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.