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

908 Devices (NASDAQ:MASS)‘s stock had its “sell (d-)” rating reaffirmed by stock analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

908 Devices Trading Down 2.0%

908 Devices stock opened at $6.81 on Tuesday. 908 Devices has a twelve month low of $1.81 and a twelve month high of $8.06. The stock has a 50 day moving average of $6.72 and a two-hundred day moving average of $4.77. The stock has a market capitalization of $244.21 million, a price-to-earnings ratio of -12.61 and a beta of 0.38.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. 908 Devices had a negative return on equity of 27.10% and a negative net margin of 28.80%. The company had revenue of $11.78 million during the quarter, compared to analysts’ expectations of $11.90 million. Equities analysts predict that 908 Devices will post -1.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mark Spoto acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $4.29 per share, with a total value of $42,900.00. Following the transaction, the director owned 62,971 shares of the company’s stock, valued at $270,145.59. The trade was a 18.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael S. Turner sold 7,148 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total value of $53,681.48. Following the completion of the sale, the insider directly owned 1,373 shares of the company’s stock, valued at $10,311.23. This represents a 83.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,543 shares of company stock valued at $233,890. 23.70% of the stock is owned by company insiders.

Institutional Trading of 908 Devices

Several hedge funds have recently modified their holdings of MASS. AWM Investment Company Inc. lifted its holdings in shares of 908 Devices by 210.6% in the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company’s stock valued at $23,296,000 after buying an additional 3,526,000 shares during the period. First Light Asset Management LLC acquired a new stake in shares of 908 Devices in the 1st quarter valued at approximately $7,621,000. Invesco Ltd. purchased a new position in 908 Devices in the 1st quarter valued at approximately $2,910,000. Essex Investment Management Co. LLC acquired a new position in 908 Devices during the first quarter worth $2,153,000. Finally, Legato Capital Management LLC acquired a new position in 908 Devices during the first quarter worth $638,000. 88.06% of the stock is owned by institutional investors and hedge funds.

908 Devices Company 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.