908 Devices FY2024 EPS Forecast Boosted by William Blair

908 Devices Inc. (NASDAQ:MASS) – Equities research analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of 908 Devices in a research note issued to investors on Tuesday, November 12th. William Blair analyst M. Larew now expects that the company will earn ($1.18) per share for the year, up from their previous forecast of ($1.19). The consensus estimate for 908 Devices’ current full-year earnings is ($1.21) per share.

A number of other equities analysts have also recently commented on MASS. Stifel Nicolaus dropped their price objective on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday. Leerink Partnrs downgraded shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Leerink Partners restated a “market perform” rating and set a $4.00 price objective (down from $12.00) on shares of 908 Devices in a research report on Wednesday.

908 Devices Stock Performance

MASS stock opened at $2.39 on Thursday. The firm has a fifty day moving average price of $3.42 and a 200 day moving average price of $4.66. 908 Devices has a fifty-two week low of $2.19 and a fifty-two week high of $12.51. The firm has a market cap of $83.23 million, a PE ratio of -1.35 and a beta of 0.98.

Hedge Funds Weigh In On 908 Devices

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in 908 Devices by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after purchasing an additional 6,772 shares during the period. AWM Investment Company Inc. grew its position in 908 Devices by 2.3% in the 1st quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock valued at $5,047,000 after acquiring an additional 15,058 shares during the last quarter. Millennium Management LLC increased its stake in 908 Devices by 35.5% in the second quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock worth $3,184,000 after purchasing an additional 161,922 shares during the period. State Street Corp lifted its position in shares of 908 Devices by 1.2% during the third quarter. State Street Corp now owns 479,044 shares of the company’s stock worth $1,662,000 after purchasing an additional 5,704 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of 908 Devices by 88.3% in the second quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock worth $1,263,000 after purchasing an additional 114,987 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.