Q2 2024 EPS Estimates for 908 Devices Inc. Decreased by Analyst (NASDAQ:MASS)

908 Devices Inc. (NASDAQ:MASS) – Equities research analysts at William Blair lowered their Q2 2024 EPS estimates for 908 Devices in a report released on Tuesday, April 30th. William Blair analyst M. Larew now anticipates that the company will earn ($0.38) per share for the quarter, down from their previous forecast of ($0.35). The consensus estimate for 908 Devices’ current full-year earnings is ($1.27) per share. William Blair also issued estimates for 908 Devices’ Q3 2024 earnings at ($0.26) EPS, Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at ($1.20) EPS and FY2025 earnings at ($1.05) EPS.

908 Devices Price Performance

Shares of MASS opened at $5.65 on Friday. The firm has a fifty day moving average price of $6.54 and a 200 day moving average price of $7.06. The stock has a market cap of $186.34 million, a PE ratio of -5.46 and a beta of 1.02. 908 Devices has a 1-year low of $4.85 and a 1-year high of $12.51.

908 Devices (NASDAQ:MASS) last issued its earnings results on Tuesday, April 30th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.03. 908 Devices had a negative net margin of 68.57% and a negative return on equity of 20.47%. The business had revenue of $9.99 million during the quarter, compared to analysts’ expectations of $9.29 million. During the same quarter in the prior year, the business posted ($0.39) EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis.

Institutional Trading of 908 Devices

Several institutional investors and hedge funds have recently made changes to their positions in MASS. Values First Advisors Inc. lifted its stake in 908 Devices by 24.5% in the third quarter. Values First Advisors Inc. now owns 16,726 shares of the company’s stock valued at $111,000 after buying an additional 3,294 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of 908 Devices during the fourth quarter worth approximately $133,000. Arete Wealth Advisors LLC increased its holdings in shares of 908 Devices by 35.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 22,758 shares of the company’s stock valued at $152,000 after acquiring an additional 5,997 shares during the period. New York State Common Retirement Fund increased its holdings in shares of 908 Devices by 15.3% in the 3rd quarter. New York State Common Retirement Fund now owns 70,525 shares of the company’s stock valued at $470,000 after acquiring an additional 9,346 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in 908 Devices by 11.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 93,775 shares of the company’s stock worth $625,000 after purchasing an additional 9,393 shares during the period. 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.