908 Devices (NASDAQ:MASS) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of 908 Devices (NASDAQ:MASS) from a hold rating to a sell rating in a research report released on Sunday.

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

908 Devices Trading Up 0.2%

Shares of MASS opened at $5.65 on Friday. The firm has a market cap of $202.61 million, a PE ratio of -10.46 and a beta of 0.37. The company’s 50 day simple moving average is $6.52 and its 200-day simple moving average is $5.52. 908 Devices has a 12-month low of $1.81 and a 12-month high of $8.06.

908 Devices (NASDAQ:MASS) last announced its 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 business had revenue of $4.70 million for the quarter, compared to analysts’ expectations 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.

Insiders Place Their Bets

In related news, insider Michael S. Turner sold 16,082 shares of 908 Devices stock in a transaction on Monday, June 16th. The shares were sold at an average price of $7.51, for a total value of $120,775.82. Following the transaction, the insider directly owned 8,521 shares in the company, valued at $63,992.71. This trade represents a 65.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 24,603 shares of company stock valued at $184,755. Company insiders own 23.70% of the company’s stock.

Institutional Investors Weigh In On 908 Devices

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its position in shares of 908 Devices by 453.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company’s stock worth $27,000 after purchasing an additional 3,100 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in shares of 908 Devices by 49.7% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company’s stock worth $47,000 after purchasing an additional 2,176 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of 908 Devices during the 2nd quarter worth $48,000. CWM LLC boosted its position in shares of 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company’s stock worth $31,000 after purchasing an additional 5,877 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of 908 Devices during the 2nd quarter worth $61,000. 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.