Brokers Offer Predictions for 908 Devices FY2024 Earnings

908 Devices Inc. (NASDAQ:MASS) – Equities research analysts at Leerink Partnrs decreased their FY2024 EPS estimates for 908 Devices in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst P. Souda now expects that the company will earn ($1.86) per share for the year, down from their prior estimate 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 research analysts also recently issued research reports about the company. Stifel Nicolaus cut their price target on 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday. Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price target (down previously from $12.00) on shares of 908 Devices in a research note on Wednesday.

908 Devices Stock Performance

NASDAQ MASS opened at $2.39 on Friday. 908 Devices has a 52 week low of $2.19 and a 52 week high of $12.51. The stock has a market capitalization of $83.23 million, a P/E ratio of -1.35 and a beta of 0.98. The stock has a fifty day moving average of $3.42 and a 200-day moving average of $4.66.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System bought a new position in shares of 908 Devices during the 1st quarter worth approximately $80,000. Vanguard Group Inc. raised its position in shares of 908 Devices by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock valued at $13,221,000 after buying an additional 6,772 shares in the last quarter. AWM Investment Company Inc. lifted its stake in 908 Devices by 2.3% during the first quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock worth $5,047,000 after purchasing an additional 15,058 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of 908 Devices during the 2nd quarter worth $48,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 908 Devices by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock worth $358,000 after acquiring an additional 4,212 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

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.