Azenta (NASDAQ:AZTA) Sets New 1-Year Low – What’s Next?

Shares of Azenta, Inc. (NASDAQ:AZTA) hit a new 52-week low during trading on Thursday . The company traded as low as $35.06 and last traded at $35.47, with a volume of 95862 shares trading hands. The stock had previously closed at $36.41.

Analyst Upgrades and Downgrades

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

Azenta Stock Performance

The stock has a market capitalization of $1.62 billion, a PE ratio of -11.86 and a beta of 1.52. The business’s 50-day moving average price is $45.82 and its 200 day moving average price is $46.42.

Azenta (NASDAQ:AZTA) last announced its earnings results 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%. As a group, equities research analysts predict that Azenta, Inc. will post 0.53 earnings per share for the current year.

Institutional Investors Weigh In On Azenta

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its position in shares of Azenta by 305.7% during the 4th quarter. Picton Mahoney Asset Management now owns 706 shares of the company’s stock valued at $35,000 after buying an additional 532 shares in the last quarter. Headlands Technologies LLC bought a new stake in Azenta during the fourth quarter worth about $40,000. Covestor Ltd lifted its stake in Azenta by 64.2% during the fourth quarter. Covestor Ltd now owns 2,043 shares of the company’s stock worth $102,000 after purchasing an additional 799 shares during the last quarter. KBC Group NV boosted its holdings in shares of Azenta by 48.5% in the 4th quarter. KBC Group NV now owns 2,137 shares of the company’s stock worth $107,000 after purchasing an additional 698 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Azenta during the 4th quarter valued at about $110,000. 99.08% of the stock is owned by hedge funds and other institutional investors.

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.