908 Devices Inc. (NASDAQ:MASS) Forecasted to Post Q2 2024 Earnings of ($0.34) Per Share

908 Devices Inc. (NASDAQ:MASS) – Analysts at Leerink Partnrs reduced their Q2 2024 earnings estimates for shares of 908 Devices in a note issued to investors on Tuesday, April 30th. Leerink Partnrs analyst P. Souda now expects that the company will earn ($0.34) per share for the quarter, down from their previous estimate of ($0.30). The consensus estimate for 908 Devices’ current full-year earnings is ($1.27) per share. Leerink Partnrs also issued estimates for 908 Devices’ Q3 2024 earnings at ($0.22) EPS, Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($1.05) EPS and FY2025 earnings at ($0.94) EPS.

908 Devices Trading Down 0.4 %

NASDAQ MASS opened at $5.65 on Friday. 908 Devices has a 52 week low of $4.85 and a 52 week high of $12.51. The stock has a market cap of $186.34 million, a price-to-earnings ratio of -5.46 and a beta of 1.02. The company has a 50-day moving average price of $6.54 and a two-hundred day moving average price of $7.06.

908 Devices (NASDAQ:MASS) last posted its earnings results on Tuesday, April 30th. The company reported ($0.33) EPS for the quarter, topping 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 firm 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 firm earned ($0.39) EPS. 908 Devices’s quarterly revenue was up 5.3% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC grew its position in 908 Devices by 8.3% in the 4th quarter. ARK Investment Management LLC now owns 4,346,579 shares of the company’s stock worth $48,769,000 after purchasing an additional 333,119 shares during the last quarter. Arete Wealth Advisors LLC grew its position in 908 Devices by 35.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 22,758 shares of the company’s stock worth $152,000 after purchasing an additional 5,997 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of 908 Devices in the fourth quarter valued at approximately $133,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of 908 Devices by 3.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 629,994 shares of the company’s stock valued at $4,196,000 after acquiring an additional 18,492 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 908 Devices by 11.1% in the third quarter. Bank of New York Mellon Corp now owns 93,775 shares of the company’s stock valued at $625,000 after acquiring an additional 9,393 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

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.