908 Devices (NASDAQ:MASS) Trading Up 3.2%

908 Devices Inc. (NASDAQ:MASS)’s share price was up 3.2% during trading on Thursday . The stock traded as high as $4.91 and last traded at $4.88. Approximately 97,159 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 213,492 shares. The stock had previously closed at $4.73.

Analyst Ratings Changes

Separately, Stephens restated an “overweight” rating and issued a $14.00 price objective on shares of 908 Devices in a research report on Monday, May 13th.

908 Devices Price Performance

The company has a market capitalization of $168.31 million, a PE ratio of -4.56 and a beta of 1.01. The business has a 50-day moving average of $5.91 and a 200 day moving average of $6.90.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, April 30th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03. 908 Devices had a negative return on equity of 20.87% and a negative net margin of 68.57%. The company had revenue of $9.99 million for the quarter, compared to the consensus estimate of $9.29 million. During the same period in the previous year, the business earned ($0.39) earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that 908 Devices Inc. will post -1.12 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Kevin J. Knopp acquired 10,000 shares of 908 Devices stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $5.83 per share, with a total value of $58,300.00. Following the completion of the purchase, the chief executive officer now directly owns 488,981 shares of the company’s stock, valued at approximately $2,850,759.23. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 30,000 shares of company stock valued at $178,500 over the last ninety days. 27.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. ARK Investment Management LLC grew its stake in shares of 908 Devices by 8.3% during the fourth quarter. ARK Investment Management LLC now owns 4,346,579 shares of the company’s stock valued at $48,769,000 after buying an additional 333,119 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of 908 Devices by 10.6% during the fourth quarter. Granahan Investment Management LLC now owns 2,038,658 shares of the company’s stock valued at $22,874,000 after buying an additional 195,368 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of 908 Devices by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock valued at $13,221,000 after buying an additional 6,772 shares during the last quarter. Iron Triangle Partners LP grew its stake in shares of 908 Devices by 31.1% during the fourth quarter. Iron Triangle Partners LP now owns 1,284,947 shares of the company’s stock valued at $14,417,000 after buying an additional 304,484 shares during the last quarter. Finally, AWM Investment Company Inc. grew its stake in shares of 908 Devices by 2.3% during the first quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock valued at $5,047,000 after buying an additional 15,058 shares during the last quarter. 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.