Azenta (NASDAQ:AZTA) Reaches New 52-Week Low - Here's What Happened

Azenta, Inc. (NASDAQ:AZTA - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The stock traded as low as $25.07 and last traded at $25.20, with a volume of 55571 shares traded. The stock had previously closed at $25.91.

Analysts Set New Price Targets

AZTA has been the subject of a number of recent research reports. Evercore ISI upped their target price on Azenta from $50.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday, February 6th. Stephens reaffirmed an "overweight" rating and set a $60.00 price objective on shares of Azenta in a report on Thursday, January 2nd. TD Cowen upgraded shares of Azenta to a "hold" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC upped their price objective on Azenta from $55.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, February 6th.

Azenta Stock Down 0.9 %

The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -8.40 and a beta of 1.66. The stock's 50-day simple moving average is $36.94 and its 200 day simple moving average is $43.94.

Azenta (NASDAQ:AZTA - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 EPS 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 anticipate that Azenta, Inc. will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AZTA. Conestoga Capital Advisors LLC raised its position in shares of Azenta by 21.4% during the first quarter. Conestoga Capital Advisors LLC now owns 1,915,556 shares of the company's stock worth $66,355,000 after acquiring an additional 337,675 shares during the last quarter. Net Worth Advisory Group raised its holdings in Azenta by 56.4% during the 1st quarter. Net Worth Advisory Group now owns 6,644 shares of the company's stock worth $230,000 after purchasing an additional 2,397 shares during the last quarter. SG Americas Securities LLC lifted its position in Azenta by 90.6% during the 1st quarter. SG Americas Securities LLC now owns 30,972 shares of the company's stock valued at $1,073,000 after purchasing an additional 14,719 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Azenta by 788.1% in the 1st quarter. Farther Finance Advisors LLC now owns 968 shares of the company's stock valued at $33,000 after purchasing an additional 859 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Azenta by 4,054.6% during the 1st quarter. GAMMA Investing LLC now owns 65,019 shares of the company's stock worth $2,252,000 after buying an additional 63,454 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.