Does 908 Devices Inc. (MASS) offer a good opportunity for investors?

908 Devices Inc. (NASDAQ: MASS) stock fell -3.39% on Wednesday to $9.68 against a previous-day closing price of $10.02. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.26 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $10.30 whereas the lowest price it dropped to was $9.32. The 52-week range on MASS shows that it touched its highest point at $26.00 and its lowest point at $5.69 during that stretch. It currently has a 1-year price target of $17.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MASS was up-trending over the past week, with a rise of 34.26%, but this was up by 36.34% over a month. Three-month performance dropped to -3.97% while six-month performance fell -2.12%. The stock lost -32.40% in the past year, while it has gained 27.03% so far this year. A look at the trailing 12-month EPS for MASS yields -1.16 with Next year EPS estimates of -1.18. For the next quarter, that number is -0.35. This implies an EPS growth rate of -34.40% for this year and 11.30% for next year.

Float and Shares Shorts:

At present, 31.97 million MASS shares are outstanding with a float of 29.14 million shares on hand for trading. On May 14, 2023, short shares totaled 1.71 million, which was 5.32% higher than short shares on Apr 13, 2023. In addition to Dr. Kevin J. Knopp Ph.D. as the firm’s Co-Founder, CEO, Pres & Director, Dr. Christopher David Brown Ph.D. serves as its Co-Founder, Chief Product Officer & Member of Scientific Advisory Board.

Institutional Ownership:

Through their ownership of 87.24% of MASS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.19% of MASS, in contrast to 29.32% held by mutual funds. Shares owned by individuals account for 15.88%. As the largest shareholder in MASS with 12.46% of the stake, ARK Investment Management LLC holds 3,992,899 shares worth 3,992,899. A second-largest stockholder of MASS, Eventide Asset Management LLC, holds 2,230,665 shares, controlling over 6.96% of the firm’s shares. Columbia Management Investment Ad is the third largest shareholder in MASS, holding 1,876,467 shares or 5.86% stake. With a 11.92% stake in MASS, the ARK Genomic Revolution ETF is the largest stakeholder. A total of 3,818,903 shares are owned by the mutual fund manager. The Eventide Healthcare & Life Scienc, which owns about 6.96% of MASS stock, is the second-largest Mutual Fund holder. It holds 2,230,665 shares valued at 15.08 million. Alger Funds – Small Cap Focus Fun holds 6.21% of the stake in MASS, owning 1,991,055 shares worth 13.46 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, MASS reported revenue of $11.11M and operating income of -$8.37M. The EBITDA in the recently reported quarter was -$7.77M and diluted EPS was -$0.26.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MASS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MASS analysts setting a high price target of $20.00 and a low target of $14.00, the average target price over the next 12 months is $17.00. Based on these targets, MASS could surge 106.61% to reach the target high and rise by 44.63% to reach the target low. Reaching the average price target will result in a growth of 75.62% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded MASS stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 7,058 shares were bought while 0 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 50 over the past year. The total number of shares bought during that period was 394,934 while 651,133 shares were sold.

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