908 Devices’ (MASS) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of 908 Devices (NASDAQ:MASS) in a research report sent to investors on Wednesday morning,Weiss Ratings reports.

908 Devices Stock Up 1.7%

NASDAQ MASS opened at $7.31 on Wednesday. 908 Devices has a 52 week low of $1.81 and a 52 week high of $7.38. The firm has a market capitalization of $262.14 million, a P/E ratio of -4.13 and a beta of 0.29. The company has a 50-day moving average price of $5.37 and a 200-day moving average price of $3.69.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. 908 Devices had a negative net margin of 109.11% and a negative return on equity of 24.60%. The firm had revenue of $11.78 million during the quarter, compared to analyst estimates of $11.90 million. As a group, equities research analysts anticipate that 908 Devices will post -1.99 EPS for the current year.

Insider Buying and Selling

In related news, CFO Joseph H. Iv Griffith sold 6,940 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $7.08, for a total value of $49,135.20. Following the completion of the sale, the chief financial officer now directly owns 102,930 shares of the company’s stock, valued at approximately $728,744.40. This represents a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark Spoto acquired 10,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $4.29 per share, with a total value of $42,900.00. Following the completion of the acquisition, the director now owns 62,971 shares in the company, valued at approximately $270,145.59. This represents a 18.88% increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors have recently added to or reduced their stakes in MASS. Two Sigma Advisers LP purchased a new stake in 908 Devices during the 4th quarter valued at approximately $30,000. CWM LLC grew its holdings in 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company’s stock valued at $31,000 after buying an additional 5,877 shares in the last quarter. Prudential Financial Inc. purchased a new stake in 908 Devices during the 4th quarter valued at approximately $34,000. Occudo Quantitative Strategies LP purchased a new stake in 908 Devices during the 4th quarter valued at approximately $36,000. Finally, Two Sigma Investments LP purchased a new stake in 908 Devices during the 4th quarter valued at approximately $42,000. 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.