Azenta (NASDAQ:AZTA) Hits New 52-Week Low – Here’s Why

Azenta, Inc. (NASDAQ:AZTA)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $35.56 and last traded at $36.68, with a volume of 596560 shares traded. The stock had previously closed at $37.47.

Analyst Ratings Changes

A number of brokerages have issued reports on AZTA. Stephens reissued an “overweight” rating and issued a $60.00 price target on shares of Azenta in a report on Thursday, January 2nd. Needham & Company LLC lifted their target price on shares of Azenta from $55.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Evercore ISI lifted their target price on shares of Azenta from $50.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Finally, TD Cowen raised shares of Azenta to a “hold” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.75.

Azenta Trading Up 2.7 %

The business’s 50 day moving average price is $46.99 and its two-hundred day moving average price is $46.73. The stock has a market cap of $1.73 billion, a P/E ratio of -12.68 and a beta of 1.52.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. As a group, analysts expect that Azenta, Inc. will post 0.53 earnings per share for the current year.

Institutional Investors Weigh In On Azenta

Hedge funds have recently bought and sold shares of the business. Picton Mahoney Asset Management boosted its stake in Azenta by 305.7% during the fourth quarter. Picton Mahoney Asset Management now owns 706 shares of the company’s stock worth $35,000 after acquiring an additional 532 shares in the last quarter. Headlands Technologies LLC purchased a new position in Azenta in the fourth quarter worth about $40,000. Covestor Ltd raised its holdings in Azenta by 64.2% in the fourth quarter. Covestor Ltd now owns 2,043 shares of the company’s stock worth $102,000 after buying an additional 799 shares during the last quarter. KBC Group NV raised its holdings in Azenta by 48.5% in the fourth quarter. KBC Group NV now owns 2,137 shares of the company’s stock worth $107,000 after buying an additional 698 shares during the last quarter. Finally, Quarry LP purchased a new position in Azenta in the fourth quarter worth about $110,000. Institutional investors own 99.08% of the company’s stock.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.