908 Devices Inc. to Post Q3 2024 Earnings of ($0.27) Per Share, William Blair Forecasts (NASDAQ:MASS)

908 Devices Inc. (NASDAQ:MASS) – Stock analysts at William Blair reduced their Q3 2024 earnings per share estimates for 908 Devices in a report issued on Wednesday, August 7th. William Blair analyst M. Larew now expects that the company will post earnings of ($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 restated an “overweight” rating and set a $14.00 target price on shares of 908 Devices in a report on Monday, May 13th.

908 Devices Price Performance

NASDAQ MASS opened at $4.35 on Friday. 908 Devices has a one year low of $4.33 and a one year high of $12.51. The firm has a market cap of $150.01 million, a P/E ratio of -4.07 and a beta of 1.02. The stock’s 50-day moving average is $5.37 and its 200-day moving average is $6.22.

Insider Buying and Selling

In other news, CEO Kevin J. Knopp purchased 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $6.42 per share, with a total value of $64,200.00. Following the purchase, the chief executive officer now directly owns 508,981 shares of the company’s stock, valued at approximately $3,267,658.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 27.80% of the company’s stock.

Hedge Funds Weigh In On 908 Devices

Several hedge funds have recently made changes to their positions in MASS. GAMMA Investing LLC acquired a new position in 908 Devices during the second quarter worth $48,000. State Board of Administration of Florida Retirement System acquired a new position in shares of 908 Devices during the 1st quarter worth about $80,000. SG Americas Securities LLC bought a new position in shares of 908 Devices in the 4th quarter valued at about $133,000. American Century Companies Inc. increased its position in shares of 908 Devices by 18.6% in the second quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after acquiring an additional 5,295 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of 908 Devices by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock valued at $358,000 after acquiring an additional 4,212 shares during the last quarter. 88.06% of the stock is owned by 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.