Q2 2024 Earnings Forecast for 908 Devices Inc. Issued By William Blair (NASDAQ:MASS)

908 Devices Inc. (NASDAQ:MASS) – Equities researchers at William Blair lowered their Q2 2024 earnings per share estimates for shares of 908 Devices in a research report issued on Tuesday, April 30th. William Blair analyst M. Larew now anticipates that the company will post earnings per share of ($0.38) for the quarter, down from their prior estimate of ($0.35). The consensus estimate for 908 Devices’ current full-year earnings is ($1.14) 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 data on Tuesday, April 30th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.03. 908 Devices had a negative return on equity of 20.47% and a negative net margin of 68.57%. The company had revenue of $9.99 million during the quarter, compared to analysts’ expectations of $9.29 million. During the same period last year, the business earned ($0.39) earnings per share. The business’s revenue was up 5.3% on a year-over-year basis.

908 Devices Stock Down 0.4 %

Shares of MASS stock opened at $5.65 on Friday. The company has a market capitalization of $186.34 million, a P/E ratio of -5.28 and a beta of 1.02. The firm has a 50-day moving average price of $6.51 and a 200 day moving average price of $7.06. 908 Devices has a 12-month low of $4.85 and a 12-month high of $12.51.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MASS. ARK Investment Management LLC raised 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 valued at $48,769,000 after purchasing an additional 333,119 shares during the last quarter. Granahan Investment Management LLC increased its position in 908 Devices by 10.6% in the 4th quarter. Granahan Investment Management LLC now owns 2,038,658 shares of the company’s stock valued at $22,874,000 after acquiring an additional 195,368 shares in the last quarter. Iron Triangle Partners LP increased its position in 908 Devices by 31.1% in the 4th quarter. Iron Triangle Partners LP now owns 1,284,947 shares of the company’s stock valued at $14,417,000 after acquiring an additional 304,484 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of 908 Devices by 3.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 629,994 shares of the company’s stock worth $4,196,000 after purchasing an additional 18,492 shares in the last quarter. Finally, AWM Investment Company Inc. bought a new stake in shares of 908 Devices during the third quarter valued at approximately $3,740,000. 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.