Brokerages Set 908 Devices Inc. (NASDAQ:MASS) Price Target at $8.00

Shares of 908 Devices Inc. (NASDAQ:MASS) have been given an average recommendation of “Buy” by the four ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $8.00.

Several equities analysts recently issued reports on the stock. Leerink Partnrs raised shares of 908 Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th. Leerink Partners raised shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research note on Tuesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research note on Saturday, August 30th. Finally, Wall Street Zen raised shares of 908 Devices from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th.

908 Devices Price Performance

Shares of NASDAQ MASS opened at $5.44 on Wednesday. 908 Devices has a 12-month low of $1.81 and a 12-month high of $8.06. The company has a market capitalization of $195.08 million, a PE ratio of -10.07 and a beta of 0.37. The firm’s 50-day moving average is $6.57 and its two-hundred day moving average is $5.46.

908 Devices (NASDAQ:MASS) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. The business 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. On average, analysts forecast that 908 Devices will post -1.99 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael S. Turner sold 16,082 shares of the company’s stock in a transaction that occurred 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 owned 8,521 shares of the company’s stock, valued at approximately $63,992.71. This represents a 65.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 24,603 shares of company stock worth $184,755 over the last quarter. Corporate insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On 908 Devices

A number of large investors have recently bought and sold shares of MASS. Marshall Wace LLP purchased a new position in 908 Devices during the fourth quarter worth approximately $85,000. Stifel Financial Corp purchased a new position in 908 Devices during the fourth quarter worth approximately $52,000. Hsbc Holdings PLC raised its stake in 908 Devices by 32.2% during the fourth quarter. Hsbc Holdings PLC now owns 21,007 shares of the company’s stock worth $46,000 after purchasing an additional 5,112 shares during the period. Northern Trust Corp raised its stake in 908 Devices by 7.5% during the fourth quarter. Northern Trust Corp now owns 200,764 shares of the company’s stock worth $442,000 after purchasing an additional 14,087 shares during the period. Finally, Jane Street Group LLC raised its stake in 908 Devices by 118.9% during the fourth quarter. Jane Street Group LLC now owns 113,890 shares of the company’s stock worth $251,000 after purchasing an additional 61,851 shares during the period. Hedge funds and other institutional investors 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.