Q2 2024 EPS Estimates for 908 Devices Inc. Decreased by Analyst (NASDAQ:MASS)

908 Devices Inc. (NASDAQ:MASS) – Analysts at William Blair decreased their Q2 2024 earnings per share (EPS) estimates for 908 Devices in a research note issued on Tuesday, April 30th. William Blair analyst M. Larew now forecasts that the company will earn ($0.38) per share for the quarter, down from their prior estimate of ($0.35). The consensus estimate for 908 Devices’ current full-year earnings is ($1.27) per share. William Blair also issued estimates for 908 Devices’ Q3 2024 earnings at ($0.26) EPS, Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at ($1.20) EPS and FY2025 earnings at ($1.05) EPS.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03. The business had revenue of $9.99 million for the quarter, compared to the consensus estimate of $9.29 million. 908 Devices had a negative return on equity of 20.47% and a negative net margin of 68.57%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share.

908 Devices Trading Down 0.4 %

Shares of MASS stock opened at $5.65 on Friday. The business’s fifty day simple moving average is $6.54 and its 200-day simple moving average is $7.06. The company has a market cap of $186.34 million, a PE ratio of -5.46 and a beta of 1.02. 908 Devices has a 12-month low of $4.85 and a 12-month high of $12.51.

Hedge Funds Weigh In On 908 Devices

Large investors have recently made changes to their positions in the business. ARK Investment Management LLC increased its position in shares of 908 Devices by 8.3% during the fourth 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 in the last quarter. Arete Wealth Advisors LLC increased its position in shares of 908 Devices by 35.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 22,758 shares of the company’s stock valued at $152,000 after acquiring an additional 5,997 shares during the period. SG Americas Securities LLC acquired a new position in shares of 908 Devices in the 4th quarter valued at $133,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 908 Devices by 3.0% in the 3rd 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 during the period. Finally, Bank of New York Mellon Corp increased its position in shares of 908 Devices by 11.1% in the 3rd 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 during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

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.