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

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

Analyst Upgrades and Downgrades

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

Azenta Stock Performance

The stock has a 50-day moving average of $46.99 and a two-hundred day moving average of $46.73. The company 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 released 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, sell-side analysts forecast that Azenta, Inc. will post 0.53 EPS for the current fiscal year.

Institutional Trading of Azenta

A number of institutional investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management raised its holdings in 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 during the last quarter. Headlands Technologies LLC bought a new stake in Azenta in the 4th quarter worth $40,000. Covestor Ltd grew its holdings in Azenta by 64.2% in the 4th quarter. Covestor Ltd now owns 2,043 shares of the company’s stock worth $102,000 after acquiring an additional 799 shares during the last quarter. KBC Group NV grew its holdings in 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 acquiring an additional 698 shares during the last quarter. Finally, Quarry LP bought a new stake in Azenta in the 4th quarter worth $110,000. Hedge funds and other 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.