Weiss Ratings Reaffirms "Sell (D-)" Rating for 908 Devices (NASDAQ:MASS)

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 restated by equities researchers at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other analysts have also recently commented on MASS. Leerink Partners upgraded shares of 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target on the stock in a research note on Tuesday, August 5th. Wall Street Zen upgraded 908 Devices from a "sell" rating to a "hold" rating in a research report on Monday. Finally, Leerink Partnrs raised 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $8.00.

908 Devices Price Performance

MASS stock opened at $6.02 on Friday. 908 Devices has a 1-year low of $1.81 and a 1-year high of $8.06. The business has a 50 day simple moving average of $6.46 and a two-hundred day simple moving average of $5.64. The company has a market capitalization of $215.88 million, a price-to-earnings ratio of -11.15 and a beta of 0.37.

908 Devices (NASDAQ:MASS - Get Free Report) last released its 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 company had revenue of $4.70 million during the quarter, compared to analysts' expectations 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 EPS for the current fiscal year.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its stake in shares of 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. Two Sigma Advisers LP purchased a new stake in 908 Devices during the 4th quarter valued at $30,000. CWM LLC lifted its position in 908 Devices by 541.2% in the first quarter. CWM LLC now owns 6,963 shares of the company's stock worth $31,000 after buying an additional 5,877 shares during the last quarter. Two Sigma Investments LP purchased a new position in 908 Devices during the fourth quarter worth $42,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in 908 Devices during the first quarter worth $45,000. 88.06% of the stock is currently 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.

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