Leerink Partnrs Brokers Lower Earnings Estimates for 908 Devices Inc. (NASDAQ:MASS)

908 Devices Inc. (NASDAQ:MASS) – Stock analysts at Leerink Partnrs decreased their Q2 2024 EPS estimates for shares of 908 Devices in a research report issued to clients and investors on Tuesday, April 30th. Leerink Partnrs analyst P. Souda now expects that the company will post earnings of ($0.34) per share for the quarter, down from their previous forecast of ($0.30). The consensus estimate for 908 Devices’ current full-year earnings is ($1.27) per share. Leerink Partnrs also issued estimates for 908 Devices’ Q3 2024 earnings at ($0.22) EPS, Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($1.05) EPS and FY2025 earnings at ($0.94) EPS.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03. 908 Devices had a negative return on equity of 20.47% and a negative net margin of 68.57%. The business had revenue of $9.99 million for the quarter, compared to the consensus estimate of $9.29 million. During the same quarter in the prior year, the company earned ($0.39) EPS. The business’s revenue was up 5.3% compared to the same quarter last year.

908 Devices Stock Down 0.2 %

Shares of MASS stock opened at $5.67 on Friday. 908 Devices has a 52-week low of $4.85 and a 52-week high of $12.51. The company’s 50 day moving average is $6.57 and its 200 day moving average is $7.07. The firm has a market cap of $187.00 million, a price-to-earnings ratio of -5.30 and a beta of 1.02.

Institutional Trading of 908 Devices

Hedge funds have recently modified their holdings of the company. Values First Advisors Inc. raised its stake in 908 Devices by 24.5% in the third quarter. Values First Advisors Inc. now owns 16,726 shares of the company’s stock valued at $111,000 after buying an additional 3,294 shares during the last quarter. SG Americas Securities LLC acquired a new stake in 908 Devices during the fourth quarter worth about $133,000. Arete Wealth Advisors LLC raised its position in 908 Devices by 35.8% during the third quarter. Arete Wealth Advisors LLC now owns 22,758 shares of the company’s stock valued at $152,000 after acquiring an additional 5,997 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of 908 Devices by 15.3% during the 3rd quarter. New York State Common Retirement Fund now owns 70,525 shares of the company’s stock worth $470,000 after purchasing an additional 9,346 shares during the period. Finally, Bank of New York Mellon Corp grew its position in 908 Devices by 11.1% during the third quarter. Bank of New York Mellon Corp now owns 93,775 shares of the company’s stock valued at $625,000 after buying an additional 9,393 shares during the period. 88.06% of the stock is 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.