908 Devices (NASDAQ:MASS) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen has dropped its rating on 908 Devices (NASDAQ:MASS) from "hold" to "sell" in a recent report.
• Despite this downgrade, a consensus rating of "Buy" remains, with an average target price of $8.00 from analysts.
• 908 Devices reported a significant earnings miss, with a loss per share of $0.18 against an expected loss of $0.16, and revenue of only $4.70 million compared to the estimated $12.17 million.

908 Devices (NASDAQ:MASS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

Other equities research analysts also recently issued research reports about the company. Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. Leerink Partners upgraded 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target for the company in a research note on Tuesday, August 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 908 Devices in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $8.00.

908 Devices Stock Up 0.2%

Shares of MASS stock traded up $0.01 on Friday, hitting $5.65. The stock had a trading volume of 298,607 shares, compared to its average volume of 246,941. The business has a 50 day moving average price of $6.52 and a 200 day moving average price of $5.52. The company has a market cap of $202.61 million, a PE ratio of -10.46 and a beta of 0.37. 908 Devices has a one year low of $1.81 and a one year high of $8.06.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The firm had revenue of $4.70 million during the quarter, compared to the consensus estimate of $12.17 million. 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. 908 Devices has set its FY 2025 guidance at EPS. Equities research analysts expect that 908 Devices will post -1.99 EPS for the current year.

Insider Buying and Selling at 908 Devices

In other news, insider Michael S. Turner sold 16,082 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $7.51, for a total transaction of $120,775.82. Following the transaction, the insider directly owned 8,521 shares in the company, valued at $63,992.71. The trade was a 65.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 24,603 shares of company stock worth $184,755. Insiders own 23.70% of the company's stock.

Institutional Trading of 908 Devices

Several institutional investors have recently made changes to their positions in MASS. Nisa Investment Advisors LLC increased its holdings in 908 Devices by 453.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company's stock valued at $27,000 after purchasing an additional 3,100 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its position in shares of 908 Devices by 49.7% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company's stock worth $47,000 after purchasing an additional 2,176 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of 908 Devices during the 2nd quarter worth $48,000. CWM LLC lifted its position in shares of 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after purchasing an additional 5,877 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of 908 Devices in the 2nd quarter valued at $61,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

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.