Azenta (NASDAQ:AZTA) Sets New 52-Week Low - Time to Sell?

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AZTA. Needham & Company LLC upped their target price on Azenta from $55.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Stephens reissued an "overweight" rating and issued a $60.00 target price on shares of Azenta in a research report on Thursday, January 2nd. Evercore ISI upped 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, TD Cowen raised Azenta to a "hold" rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $58.75.

Azenta Trading Down 1.0 %

The company has a 50 day simple moving average of $46.70 and a 200 day simple moving average of $46.64. The stock has a market capitalization of $1.71 billion, a PE ratio of -12.56 and a beta of 1.52.

Azenta (NASDAQ:AZTA - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (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%. On average, equities research analysts predict that Azenta, Inc. will post 0.53 EPS for the current year.

Remove Ads

Hedge Funds Weigh In On Azenta

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Azenta by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,033,171 shares of the company's stock worth $151,659,000 after buying an additional 26,929 shares in the last quarter. State Street Corp raised its stake in shares of Azenta by 0.4% during the 3rd quarter. State Street Corp now owns 1,686,993 shares of the company's stock worth $81,718,000 after buying an additional 6,398 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Azenta by 65.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,577,881 shares of the company's stock worth $78,894,000 after buying an additional 621,830 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Azenta by 46.7% during the 4th quarter. Schroder Investment Management Group now owns 1,405,056 shares of the company's stock worth $70,183,000 after buying an additional 447,292 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Azenta by 1.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,317,385 shares of the company's stock valued at $65,922,000 after purchasing an additional 18,529 shares in the last quarter. 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.