908 Devices Inc. (NASDAQ:MASS – Free Report) – Investment analysts at William Blair dropped their Q1 2024 earnings per share (EPS) estimates for shares of 908 Devices in a research note issued to investors on Tuesday, March 5th. William Blair analyst M. Larew now expects that the company will post earnings per share of ($0.37) for the quarter, down from their prior estimate of ($0.36). The consensus estimate for 908 Devices’ current full-year earnings is ($1.19) per share. William Blair also issued estimates for 908 Devices’ Q2 2024 earnings at ($0.35) EPS, Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($1.31) EPS and FY2025 earnings at ($1.19) EPS.
908 Devices (NASDAQ:MASS – Get Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The firm had revenue of $14.40 million during the quarter, compared to the consensus estimate of $14.16 million. 908 Devices had a negative return on equity of 20.80% and a negative net margin of 72.47%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the company earned ($0.31) EPS.
908 Devices Trading Down 1.2 %
Hedge Funds Weigh In On 908 Devices
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG boosted its holdings in 908 Devices by 171.0% in the third quarter. UBS Group AG now owns 2,439 shares of the company’s stock valued at $40,000 after purchasing an additional 1,539 shares in the last quarter. Point72 Middle East FZE acquired a new position in 908 Devices in the second quarter valued at approximately $30,000. Barclays PLC boosted its holdings in 908 Devices by 567.3% in the fourth quarter. Barclays PLC now owns 6,186 shares of the company’s stock valued at $47,000 after purchasing an additional 5,259 shares in the last quarter. Quantbot Technologies LP boosted its holdings in 908 Devices by 960.8% in the first quarter. Quantbot Technologies LP now owns 6,365 shares of the company’s stock valued at $120,000 after purchasing an additional 5,765 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in 908 Devices in the fourth quarter valued at approximately $48,000. 65.74% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at 908 Devices
In other 908 Devices news, insider Christopher D. Brown sold 7,370 shares of 908 Devices stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $9.12, for a total value of $67,214.40. Following the completion of the transaction, the insider now directly owns 877,905 shares of the company’s stock, valued at approximately $8,006,493.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Kevin J. Knopp sold 9,071 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $7.00, for a total transaction of $63,497.00. Following the sale, the chief executive officer now directly owns 411,981 shares in the company, valued at $2,883,867. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher D. Brown sold 7,370 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $9.12, for a total transaction of $67,214.40. Following the sale, the insider now owns 877,905 shares in the company, valued at $8,006,493.60. The disclosure for this sale can be found here. Insiders sold a total of 40,346 shares of company stock valued at $324,982 in the last three months. 27.80% of the stock is owned by corporate insiders.
908 Devices Company Profile
908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry (Mass Spec) devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, industrial biotech, 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 gas, liquid, and solid materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; Maven and Trace C2, an online device for bioprocess monitoring and control; and ZipChip solution, a plug-and-play, high-resolution separation platform that optimizes Mass Spec sample analysis.
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