908 Devices (NASDAQ:MASS) Stock Price Down 0.6%

908 Devices Inc. (NASDAQ:MASS)’s stock price fell 0.6% during mid-day trading on Thursday . The stock traded as low as $3.46 and last traded at $3.47. 141,215 shares traded hands during trading, a decline of 31% from the average session volume of 205,240 shares. The stock had previously closed at $3.49.

908 Devices Price Performance

The business has a 50-day simple moving average of $4.60 and a 200 day simple moving average of $5.67. The firm has a market cap of $119.66 million, a PE ratio of -3.24 and a beta of 0.98.

908 Devices (NASDAQ:MASS) last released its earnings results on Tuesday, August 6th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. The company had revenue of $14.05 million for the quarter, compared to analysts’ expectations of $13.69 million. 908 Devices had a negative net margin of 72.10% and a negative return on equity of 22.47%. On average, equities analysts forecast that 908 Devices Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of 908 Devices in the second quarter valued at about $48,000. State Board of Administration of Florida Retirement System bought a new stake in 908 Devices during the 1st quarter valued at approximately $80,000. American Century Companies Inc. lifted its holdings in 908 Devices by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock worth $174,000 after purchasing an additional 5,295 shares in the last quarter. Marshall Wace LLP bought a new position in 908 Devices in the 2nd quarter worth approximately $229,000. Finally, Squarepoint Ops LLC purchased a new stake in 908 Devices during the 2nd quarter valued at approximately $250,000. Institutional investors own 88.06% of the company’s stock.

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.