Azenta (NASDAQ:AZTA) Sets New 52-Week Low – What’s Next?

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

Analyst Ratings Changes

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

Azenta Stock Down 2.1 %

The stock has a fifty day moving average of $47.57 and a two-hundred day moving average of $46.86. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -12.31 and a beta of 1.52.

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

Institutional Trading of Azenta

Large investors have recently bought and sold shares of the company. Premier Fund Managers Ltd acquired a new stake in Azenta in the third quarter valued at $686,000. State of Alaska Department of Revenue grew its holdings in Azenta by 355.2% in the fourth quarter. State of Alaska Department of Revenue now owns 25,899 shares of the company’s stock valued at $1,294,000 after purchasing an additional 20,210 shares during the last quarter. Stephens Inc. AR acquired a new stake in Azenta in the fourth quarter valued at $313,000. SG Americas Securities LLC acquired a new stake in Azenta in the fourth quarter valued at $813,000. Finally, Conestoga Capital Advisors LLC grew its holdings in Azenta by 65.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,577,881 shares of the company’s stock valued at $78,894,000 after purchasing an additional 621,830 shares during the last quarter. Institutional investors and hedge funds own 99.08% of the company’s stock.

About Azenta

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.