908 Devices (NASDAQ:MASS) Stock Rating Lowered by 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 investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

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

908 Devices Stock Down 2.1%

Shares of MASS traded down $0.12 during mid-day trading on Friday, hitting $5.60. 340,952 shares of the company's stock traded hands, compared to its average volume of 246,908. 908 Devices has a 1 year low of $1.81 and a 1 year high of $8.06. The firm has a market capitalization of $200.82 million, a P/E ratio of -10.37 and a beta of 0.37. The business's 50-day moving average price is $6.46 and its 200-day moving average price is $5.56.

908 Devices (NASDAQ:MASS - Get Free Report) last released its quarterly earnings results 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). 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. The firm had revenue of $4.70 million for the quarter, compared to the consensus estimate of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that 908 Devices will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 908 Devices news, insider Michael S. Turner sold 7,148 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total value of $53,681.48. Following the sale, the insider directly owned 1,373 shares of the company's stock, valued at approximately $10,311.23. The trade was a 83.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 24,603 shares of company stock valued at $184,755 over the last 90 days. Insiders own 23.70% of the company's stock.

Institutional Investors Weigh In On 908 Devices

Several hedge funds have recently added to or reduced their stakes in MASS. Nisa Investment Advisors LLC boosted its holdings in 908 Devices by 453.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company's stock worth $27,000 after acquiring an additional 3,100 shares in the last quarter. Two Sigma Advisers LP bought a new stake in 908 Devices in the fourth quarter worth $30,000. CWM LLC lifted its holdings in shares of 908 Devices by 541.2% during the first quarter. CWM LLC now owns 6,963 shares of the company's stock valued at $31,000 after purchasing an additional 5,877 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of 908 Devices during the fourth quarter valued at $36,000. Finally, Two Sigma Investments LP purchased a new stake in shares of 908 Devices during the fourth quarter valued at $42,000. 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.