Azenta (NASDAQ:AZTA) Stock Price Down 6.9% – Should You Sell?

Azenta, Inc. (NASDAQ:AZTA) shares traded down 6.9% on Tuesday . The stock traded as low as $40.48 and last traded at $40.52. 197,584 shares were traded during trading, a decline of 66% from the average session volume of 579,642 shares. The stock had previously closed at $43.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen upgraded shares of Azenta to a “hold” rating in a research report on Thursday, February 27th. Evercore ISI lifted their price objective on Azenta from $50.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. Needham & Company LLC upped 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. Finally, Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of Azenta in a research note on Thursday, January 2nd. Three 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 stock currently has a consensus rating of “Hold” and an average price target of $58.75.

Azenta Price Performance

The company has a market cap of $1.67 billion, a PE ratio of -12.27 and a beta of 1.52. The firm has a 50-day simple moving average of $48.70 and a two-hundred day simple moving average of $47.22.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, beating 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%. Equities research analysts forecast that Azenta, Inc. will post 0.53 EPS for the current year.

Hedge Funds Weigh In On Azenta

Several institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in Azenta by 20.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock valued at $74,000 after acquiring an additional 256 shares during the last quarter. Ballentine Partners LLC increased its stake in Azenta by 2.0% in the fourth quarter. Ballentine Partners LLC now owns 20,340 shares of the company’s stock valued at $1,017,000 after purchasing an additional 404 shares during the last quarter. Boothbay Fund Management LLC lifted its position in Azenta by 8.4% during the fourth quarter. Boothbay Fund Management LLC now owns 6,571 shares of the company’s stock worth $329,000 after buying an additional 509 shares during the period. Picton Mahoney Asset Management lifted its position 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 buying an additional 532 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Azenta by 14.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,446 shares of the company’s stock worth $225,000 after buying an additional 576 shares during the last quarter. Hedge funds and other institutional investors 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.