Charles Schwab Investment Management Inc. Boosts Stake in 908 Devices Inc. $MASS

Charles Schwab Investment Management Inc. lifted its stake in shares of 908 Devices Inc. (NASDAQ:MASS) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 212,230 shares of the company’s stock after purchasing an additional 10,462 shares during the period. Charles Schwab Investment Management Inc. owned 0.59% of 908 Devices worth $951,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of 908 Devices by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company’s stock worth $233,000 after purchasing an additional 1,985 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of 908 Devices by 32.2% during the 4th 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. CWM LLC increased its stake in shares of 908 Devices by 541.2% during the 1st quarter. CWM LLC now owns 6,963 shares of the company’s stock worth $31,000 after purchasing an additional 5,877 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of 908 Devices during the 1st quarter worth approximately $45,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of 908 Devices by 115.6% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,862 shares of the company’s stock worth $102,000 after purchasing an additional 12,258 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

908 Devices Stock Performance

NASDAQ MASS opened at $5.94 on Wednesday. 908 Devices Inc. has a 52-week low of $1.81 and a 52-week high of $8.06. The company has a market capitalization of $213.01 million, a P/E ratio of -11.00 and a beta of 0.37. The company has a fifty day moving average of $6.64 and a 200-day moving average of $5.42.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%.The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. As a group, analysts forecast that 908 Devices Inc. will post -1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Leerink Partnrs upgraded shares of 908 Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th. Leerink Partners upgraded shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a research note on Saturday. Finally, Wall Street Zen upgraded shares of 908 Devices from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, 908 Devices presently has a consensus rating of “Buy” and an average price target of $8.00.

Insider Buying and Selling

In other 908 Devices news, insider Michael S. Turner sold 16,082 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $7.51, for a total value of $120,775.82. Following the completion of the sale, the insider directly owned 8,521 shares of the company’s stock, valued at $63,992.71. The trade was a 65.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 24,603 shares of company stock valued at $184,755. 23.70% of the stock is owned by company insiders.

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.