908 Devices (NASDAQ:MASS) Receives “Sell (D-)” Rating from Weiss Ratings

908 Devices (NASDAQ:MASS)‘s stock had its “sell (d-)” rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

908 Devices Stock Performance

Shares of 908 Devices stock opened at $7.19 on Wednesday. The firm has a market capitalization of $257.84 million, a price-to-earnings ratio of -4.06 and a beta of 0.29. 908 Devices has a fifty-two week low of $1.81 and a fifty-two week high of $7.38. The stock has a 50 day moving average of $5.29 and a 200 day moving average of $3.66.

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

Insider Transactions at 908 Devices

In other 908 Devices news, Director Mark Spoto purchased 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, for a total transaction of $42,900.00. Following the completion of the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the firm’s stock in a transaction 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 owns 102,930 shares in the company, valued at approximately $728,744.40. This represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.70% of the company’s stock.

Institutional Trading of 908 Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in shares of 908 Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 581,300 shares of the company’s stock worth $1,279,000 after purchasing an additional 13,512 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of 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 last quarter. Northern Trust Corp grew its holdings in shares of 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 last quarter. Jane Street Group LLC grew its holdings in shares of 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 last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of 908 Devices during the fourth quarter worth about $34,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

908 Devices Company Profile

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.