908 Devices (NASDAQ:MASS) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for 908 Devices (NASDAQ:MASS), indicating ongoing concerns about the company's performance.
• Despite Weiss Ratings' stance, some analysts have upgraded their ratings on 908 Devices, with Leerink Partners moving it from "market perform" to "outperform" with a price target of $12.00.
• For the most recent quarter, 908 Devices reported an earnings miss, with a loss of ($0.18) EPS and revenue of $4.70 million, significantly below analysts’ expectations of $12.17 million.

908 Devices (NASDAQ:MASS - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued on Saturday, September 13th,Weiss Ratings reports.

Several other research firms have also commented on MASS. 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 report on Tuesday, August 5th. Wall Street Zen upgraded 908 Devices from a "sell" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Leerink Partnrs upgraded 908 Devices from a "hold" rating to a "strong-buy" rating in a research note 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $8.00.

908 Devices Stock Performance

Shares of MASS traded up $0.48 during midday trading on Friday, hitting $7.30. 761,195 shares of the stock were exchanged, compared to its average volume of 301,811. 908 Devices has a 52-week low of $1.81 and a 52-week high of $8.06. The stock has a fifty day simple moving average of $6.43 and a 200 day simple moving average of $5.70. The firm has a market cap of $261.78 million, a P/E ratio of -13.52 and a beta of 0.37.

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

Institutional Trading of 908 Devices

A number of institutional investors have recently bought and sold shares of the business. AWM Investment Company Inc. lifted its holdings in 908 Devices by 210.6% during the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company's stock worth $23,296,000 after buying an additional 3,526,000 shares during the last quarter. ARK Investment Management LLC lifted its holdings in 908 Devices by 4.0% during the 1st quarter. ARK Investment Management LLC now owns 2,899,347 shares of the company's stock worth $12,989,000 after buying an additional 110,781 shares during the last quarter. First Light Asset Management LLC purchased a new stake in shares of 908 Devices in the 1st quarter valued at about $7,621,000. GM Advisory Group LLC purchased a new stake in shares of 908 Devices in the 2nd quarter valued at about $8,309,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 908 Devices by 11.7% in the 2nd quarter. Geode Capital Management LLC now owns 658,603 shares of the company's stock valued at $4,697,000 after purchasing an additional 68,764 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

About 908 Devices

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.