908 Devices Inc. (NASDAQ:MASS – Get Rating) – Equities researchers at William Blair raised their Q2 2023 earnings per share estimates for shares of 908 Devices in a research note issued on Monday, May 15th. William Blair analyst M. Larew now forecasts that the company will post earnings of ($0.35) per share for the quarter, up from their previous forecast of ($0.36). The consensus estimate for 908 Devices’ current full-year earnings is ($1.31) per share. William Blair also issued estimates for 908 Devices’ Q4 2023 earnings at ($0.29) EPS, Q1 2024 earnings at ($0.37) EPS, Q2 2024 earnings at ($0.31) EPS, Q3 2024 earnings at ($0.28) EPS and FY2024 earnings at ($1.23) EPS.
908 Devices (NASDAQ:MASS – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The business had revenue of $9.50 million for the quarter, compared to analysts’ expectations of $8.65 million. 908 Devices had a negative net margin of 76.37% and a negative return on equity of 19.08%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.30) EPS.
Separately, Stephens initiated coverage on 908 Devices in a report on Monday, February 6th. They set an “overweight” rating and a $14.00 price target for the company.
908 Devices Trading Down 5.3 %
Shares of 908 Devices stock opened at $6.93 on Wednesday. 908 Devices has a 52-week low of $5.69 and a 52-week high of $26.00. The stock has a 50-day simple moving average of $7.80 and a 200-day simple moving average of $9.09.
Institutional Investors Weigh In On 908 Devices
Institutional investors have recently made changes to their positions in the company. Fred Alger Management LLC lifted its holdings in shares of 908 Devices by 223.2% during the 3rd quarter. Fred Alger Management LLC now owns 3,459,103 shares of the company’s stock valued at $56,902,000 after buying an additional 2,388,844 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in 908 Devices in the 3rd quarter worth approximately $4,061,000. New York State Common Retirement Fund lifted its holdings in 908 Devices by 2.8% in the 4th quarter. New York State Common Retirement Fund now owns 57,552 shares of the company’s stock worth $439,000 after purchasing an additional 1,564 shares during the last quarter. Emerald Advisers LLC lifted its holdings in 908 Devices by 875.4% in the 4th quarter. Emerald Advisers LLC now owns 89,267 shares of the company’s stock worth $680,000 after purchasing an additional 80,115 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in 908 Devices in the 4th quarter worth approximately $496,000. 80.53% of the stock is currently owned by institutional investors and hedge funds.
908 Devices Company Profile
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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; and ZipChip solution, a plug-and-play, high-resolution separation platform that optimizes Mass Spec sample analysis.
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