908 Devices (NASDAQ:MASS) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

908 Devices (NASDAQ:MASS) announced its quarterly earnings results on Tuesday. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.03, Yahoo Finance reports. The firm had revenue of $9.99 million for the quarter, compared to analyst estimates of $9.29 million. 908 Devices had a negative return on equity of 21.09% and a negative net margin of 72.47%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.39) earnings per share. 908 Devices updated its FY 2024 guidance to EPS.

908 Devices Trading Down 0.4 %

Shares of 908 Devices stock traded down $0.02 during trading on Wednesday, hitting $5.68. 84,979 shares of the stock traded hands, compared to its average volume of 172,924. The firm has a market cap of $186.93 million, a P/E ratio of -5.05 and a beta of 0.93. 908 Devices has a 52-week low of $4.85 and a 52-week high of $12.51. The stock’s fifty day simple moving average is $6.59 and its 200 day simple moving average is $7.08.

Insider Activity

In related news, CEO Kevin J. Knopp sold 9,071 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $7.00, for a total transaction of $63,497.00. Following the sale, the chief executive officer now owns 411,981 shares of the company’s stock, valued at $2,883,867. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Michael S. Turner sold 5,232 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $6.99, for a total transaction of $36,571.68. Following the sale, the insider now owns 9,105 shares of the company’s stock, valued at $63,643.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin J. Knopp sold 9,071 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $7.00, for a total value of $63,497.00. Following the completion of the sale, the chief executive officer now directly owns 411,981 shares of the company’s stock, valued at approximately $2,883,867. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,001 shares of company stock worth $139,955. Company insiders own 27.80% 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.