Analysts Issue Forecasts for 908 Devices FY2024 Earnings

908 Devices Inc. (NASDAQ:MASS) – Research analysts at Leerink Partnrs cut their FY2024 EPS estimates for 908 Devices in a note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings of ($1.86) per share for the year, down from their prior forecast of ($1.12). Leerink Partnrs currently has a “Hold” rating on the stock. The consensus estimate for 908 Devices’ current full-year earnings is ($1.21) per share. Leerink Partnrs also issued estimates for 908 Devices’ Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.24) EPS, FY2025 earnings at ($1.23) EPS and FY2026 earnings at ($1.13) EPS.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus lowered their target price on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday. Leerink Partners reissued a “market perform” rating and set a $4.00 price objective (down from $12.00) on shares of 908 Devices in a research note on Wednesday.

908 Devices Trading Up 1.7 %

908 Devices stock opened at $2.38 on Friday. The stock has a fifty day moving average price of $3.44 and a 200 day moving average price of $4.68. 908 Devices has a 52 week low of $2.19 and a 52 week high of $12.51. The firm has a market capitalization of $82.87 million, a P/E ratio of -1.34 and a beta of 0.98.

Institutional Trading of 908 Devices

A number of institutional investors have recently added to or reduced their stakes in MASS. Millennium Management LLC raised its holdings in shares of 908 Devices by 35.5% during the 2nd quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock valued at $3,184,000 after buying an additional 161,922 shares during the period. ClariVest Asset Management LLC purchased a new stake in shares of 908 Devices during the second quarter valued at approximately $668,000. Dimensional Fund Advisors LP raised its stake in shares of 908 Devices by 88.3% during the second quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock valued at $1,263,000 after purchasing an additional 114,987 shares during the period. AQR Capital Management LLC purchased a new position in shares of 908 Devices in the second quarter valued at $585,000. Finally, Renaissance Technologies LLC grew its holdings in 908 Devices by 79.4% during the 2nd quarter. Renaissance Technologies LLC now owns 195,500 shares of the company’s stock valued at $1,007,000 after purchasing an additional 86,500 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.