908 Devices gains on annual forecast raise

908 Devices

30/04/2024 14:18

** Shares in Mass Spec devices maker 908 Devices  MASS.O 
rise 4.3% to $6 premarket
    ** Co sees FY24 revenue in the range of $63 mln to $65 mln;
up from previous forecast of $52 mln to $54 mln
    ** Q1 revenue up 5% year-over-year to $10 mln 
    ** Quarterly net loss narrows to $10.9 mln from $12.5 mln in
Q1 2023 
    ** Co also announces acquisition of privately-held RedWave
Technology 
    ** Five of five brokerages rate the stock "buy" or higher;
their median PT is $15
    ** Up to Monday's close, stock had fallen 48.7% YTD

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))