Old Port Advisors Invests $525,000 in 908 Devices Inc. $MASS

Old Port Advisors bought a new position in shares of 908 Devices Inc. (NASDAQ:MASS) during the second quarter, HoldingsChannel.com reports. The firm bought 73,629 shares of the company’s stock, valued at approximately $525,000.

A number of other hedge funds have also made changes to their positions in the company. Two Sigma Advisers LP acquired a new stake in 908 Devices in the 4th quarter valued at about $30,000. CWM LLC lifted its position in shares of 908 Devices by 541.2% in the first quarter. CWM LLC now owns 6,963 shares of the company’s stock valued at $31,000 after acquiring an additional 5,877 shares in the last quarter. Two Sigma Investments LP acquired a new stake in 908 Devices during the fourth quarter worth approximately $42,000. Cambridge Investment Research Advisors Inc. acquired a new stake in 908 Devices in the 1st quarter worth about $45,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of 908 Devices by 115.6% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,862 shares of the company’s stock valued at $102,000 after buying an additional 12,258 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

908 Devices Trading Down 2.6%

NASDAQ:MASS opened at $8.01 on Friday. 908 Devices Inc. has a 1-year low of $1.81 and a 1-year high of $8.28. The firm has a market capitalization of $287.24 million, a price-to-earnings ratio of -14.83 and a beta of 0.37. The business’s fifty day moving average price is $6.54 and its 200 day moving average price is $5.87.

908 Devices (NASDAQ:MASS) last posted its 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). The company had revenue of $4.70 million during the quarter, compared to analyst estimates 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. Equities analysts forecast that 908 Devices Inc. will post -1.99 earnings per share for the current year.

Insider Buying and Selling at 908 Devices

In related news, CFO Joseph H. Iv Griffith sold 5,000 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $7.07, for a total value of $35,350.00. Following the completion of the transaction, the chief financial officer owned 97,930 shares of the company’s stock, valued at $692,365.10. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 23.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MASS. Leerink Partners raised shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Tuesday, August 5th. Leerink Partnrs upgraded 908 Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of 908 Devices from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, 908 Devices presently has an average rating of “Buy” and a consensus target price of $8.00.

908 Devices 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.