908 Devices’ (MASS) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of 908 Devices (NASDAQ:MASS) in a research note released on Saturday morning,Weiss Ratings reports.

A number of other brokerages have also issued reports on MASS. Wall Street Zen upgraded shares of 908 Devices from a “sell” rating to a “hold” rating in a research note on Saturday. Leerink Partnrs upgraded shares of 908 Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th. Finally, Leerink Partners upgraded shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company 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 company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $8.00.

908 Devices Trading Down 0.2%

Shares of NASDAQ:MASS opened at $6.25 on Friday. The company has a fifty day simple moving average of $6.66 and a 200 day simple moving average of $5.42. The firm has a market cap of $224.13 million, a PE ratio of -11.57 and a beta of 0.37. 908 Devices has a 12-month low of $1.81 and a 12-month high of $8.06.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The company had revenue of $4.70 million during the quarter, compared to the consensus estimate of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. 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.

Insider Buying and Selling at 908 Devices

In other news, CFO Joseph H. Iv Griffith sold 6,940 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $7.08, for a total transaction of $49,135.20. Following the completion of the transaction, the chief financial officer owned 102,930 shares of the company’s stock, valued at approximately $728,744.40. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael S. Turner sold 16,082 shares of the business’s stock in a transaction on Monday, June 16th. The shares were 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 of the company’s stock, valued at approximately $63,992.71. This trade represents a 65.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,543 shares of company stock valued at $233,890. Corporate insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On 908 Devices

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in shares of 908 Devices by 5.5% during the second quarter. Rhumbline Advisers now owns 36,416 shares of the company’s stock valued at $260,000 after acquiring an additional 1,894 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 908 Devices by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company’s stock valued at $233,000 after acquiring an additional 1,985 shares during the period. ANTIPODES PARTNERS Ltd boosted its holdings in shares of 908 Devices by 49.7% during the second quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company’s stock valued at $47,000 after acquiring an additional 2,176 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of 908 Devices by 453.2% during the second quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock valued at $27,000 after acquiring an additional 3,100 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of 908 Devices by 10.8% during the first quarter. American Century Companies Inc. now owns 45,814 shares of the company’s stock valued at $205,000 after acquiring an additional 4,471 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.