908 Devices Inc. (NASDAQ:MASS – Free Report) – Equities research analysts at William Blair cut their Q3 2024 EPS estimates for 908 Devices in a report released on Wednesday, August 7th. William Blair analyst M. Larew now anticipates that the company will earn ($0.27) per share for the quarter, down from their prior estimate of ($0.26). The consensus estimate for 908 Devices’ current full-year earnings is ($1.13) per share. William Blair also issued estimates for 908 Devices’ Q4 2024 earnings at ($0.21) EPS, FY2024 earnings at ($1.19) EPS, Q2 2025 earnings at ($0.30) EPS and FY2025 earnings at ($1.07) EPS.
Separately, Stephens reiterated an “overweight” rating and issued a $14.00 target price on shares of 908 Devices in a report on Monday, May 13th.
908 Devices Price Performance
Shares of NASDAQ:MASS opened at $4.35 on Friday. The business’s 50-day moving average is $5.37 and its 200-day moving average is $6.22. 908 Devices has a 1 year low of $4.33 and a 1 year high of $12.51. The company has a market capitalization of $150.01 million, a price-to-earnings ratio of -4.07 and a beta of 1.02.
Insider Buying and Selling
In related news, CEO Kevin J. Knopp purchased 10,000 shares of 908 Devices stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $6.42 per share, for a total transaction of $64,200.00. Following the completion of the acquisition, the chief executive officer now owns 508,981 shares of the company’s stock, valued at approximately $3,267,658.02. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 27.80% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in 908 Devices in the second quarter valued at approximately $48,000. State Board of Administration of Florida Retirement System bought a new position in shares of 908 Devices in the 1st quarter worth $80,000. SG Americas Securities LLC acquired a new stake in 908 Devices in the 4th quarter valued at $133,000. American Century Companies Inc. grew its position in 908 Devices by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after purchasing an additional 5,295 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in 908 Devices by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock valued at $358,000 after purchasing an additional 4,212 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.
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.
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