908 Devices (NASDAQ:MASS) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

908 Devices (NASDAQ:MASS - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.03, Yahoo Finance reports. The firm had revenue of $9.99 million during the quarter, compared to analysts' expectations of $9.29 million. 908 Devices had a negative net margin of 72.47% and a negative return on equity of 21.09%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.39) EPS. 908 Devices updated its FY 2024 guidance to EPS.

908 Devices Stock Performance

MASS traded down $0.02 during midday trading on Wednesday, hitting $5.68. The company had a trading volume of 270,502 shares, compared to its average volume of 175,176. 908 Devices has a twelve month low of $4.85 and a twelve month high of $12.51. The firm's 50-day simple moving average is $6.59 and its 200-day simple moving average is $7.08. The company has a market capitalization of $186.93 million, a PE ratio of -5.03 and a beta of 0.93.

Insider Transactions at 908 Devices

In other news, CFO Joseph H. Iv Griffith sold 5,698 shares of 908 Devices stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $7.00, for a total transaction of $39,886.00. Following the completion of the sale, the chief financial officer now owns 89,711 shares in the company, valued at approximately $627,977. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Joseph H. Iv Griffith sold 5,698 shares of 908 Devices stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $7.00, for a total transaction of $39,886.00. Following the completion of the sale, the chief financial officer now owns 89,711 shares in the company, valued at approximately $627,977. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael S. Turner sold 5,232 shares of 908 Devices stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $6.99, for a total transaction of $36,571.68. Following the sale, the insider now owns 9,105 shares of the company's stock, valued at approximately $63,643.95. The disclosure for this sale can be found here. Insiders sold a total of 20,001 shares of company stock worth $139,955 in the last quarter. 27.80% of the stock is owned by company insiders.

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.