Azenta (NASDAQ:AZTA) Reaches New 1-Year Low – Time to Sell?

Azenta, Inc. (NASDAQ:AZTA)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $43.42 and last traded at $43.47, with a volume of 284527 shares changing hands. The stock had previously closed at $43.98.

Analyst Ratings Changes

A number of brokerages recently issued reports on AZTA. Needham & Company LLC restated a “buy” rating and issued a $69.00 price target on shares of Azenta in a research report on Wednesday, August 7th. Evercore ISI dropped their price target on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $66.40.

Azenta Trading Up 1.4 %

The company has a 50-day simple moving average of $48.10 and a 200 day simple moving average of $51.98. The company has a market cap of $2.38 billion, a P/E ratio of -16.29 and a beta of 1.47.

Azenta (NASDAQ:AZTA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. The firm had revenue of $173.00 million for the quarter, compared to analysts’ expectations of $166.14 million. During the same period in the prior year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Azenta, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Trading of Azenta

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in Azenta by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,298,856 shares of the company’s stock worth $62,917,000 after purchasing an additional 183,040 shares in the last quarter. Net Worth Advisory Group bought a new position in shares of Azenta during the 3rd quarter worth $205,000. Wesbanco Bank Inc. increased its stake in shares of Azenta by 72.2% during the third quarter. Wesbanco Bank Inc. now owns 31,000 shares of the company’s stock valued at $1,502,000 after buying an additional 13,000 shares during the period. Procyon Advisors LLC bought a new stake in shares of Azenta in the third quarter valued at about $247,000. Finally, Green Alpha Advisors LLC lifted its stake in Azenta by 3.5% in the third quarter. Green Alpha Advisors LLC now owns 10,203 shares of the company’s stock worth $494,000 after acquiring an additional 348 shares during the period. 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.