Azenta (NASDAQ:AZTA) Stock Price Down 9.4% – Should You Sell?

Shares of Azenta, Inc. (NASDAQ:AZTA) traded down 9.4% on Thursday . The stock traded as low as $43.41 and last traded at $42.63. 407,093 shares were traded during trading, a decline of 17% from the average session volume of 493,224 shares. The stock had previously closed at $47.04.

Wall Street Analyst Weigh In

AZTA has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on Azenta from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Evercore ISI lifted their price objective on shares of Azenta from $50.00 to $52.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Finally, Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of Azenta in a report on Thursday, January 2nd.

Azenta Trading Down 8.7 %

The stock has a 50-day moving average of $50.43 and a two-hundred day moving average of $47.86. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -14.41 and a beta of 1.47.

Azenta (NASDAQ:AZTA) last announced its earnings results 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%. Sell-side analysts expect that Azenta, Inc. will post 0.53 EPS for the current fiscal year.

Institutional Trading of Azenta

Large investors have recently added to or reduced their stakes in the company. Premier Fund Managers Ltd acquired a new stake in shares of Azenta in the third quarter worth $686,000. Royce & Associates LP lifted its stake in Azenta by 7.8% in the 3rd quarter. Royce & Associates LP now owns 739,977 shares of the company’s stock worth $35,844,000 after acquiring an additional 53,584 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Azenta by 355.2% during the 4th quarter. State of Alaska Department of Revenue now owns 25,899 shares of the company’s stock worth $1,294,000 after acquiring an additional 20,210 shares during the period. Stephens Inc. AR acquired a new stake in Azenta during the 4th quarter worth about $313,000. Finally, SG Americas Securities LLC acquired a new position in shares of Azenta in the 4th quarter valued at about $813,000. 99.08% of the stock is owned by institutional investors and hedge funds.

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.