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

Azenta, Inc. (NASDAQ:AZTA) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $43.42 and last traded at $43.47, with a volume of 284527 shares traded. The stock had previously closed at $43.98.

Analyst Ratings Changes

AZTA has been the topic of several recent analyst reports. Evercore ISI decreased their price objective on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $69.00 price objective on shares of Azenta in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.40.

Azenta Stock Up 1.4 %

The firm’s fifty day moving average price is $48.10 and its 200 day moving average price is $51.98. The stock has a market cap of $2.38 billion, a PE ratio of -16.29 and a beta of 1.47.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09. The business had revenue of $173.00 million for the quarter, compared to analysts’ expectations of $166.14 million. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 EPS. As a group, analysts anticipate that Azenta, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. HighPoint Advisor Group LLC purchased a new stake in Azenta during the fourth quarter valued at $364,000. Park Avenue Securities LLC raised its position in shares of Azenta by 1.6% during the 1st quarter. Park Avenue Securities LLC now owns 12,181 shares of the company’s stock valued at $734,000 after buying an additional 192 shares in the last quarter. Roble Belko & Company Inc bought a new position in shares of Azenta in the 1st quarter valued at about $211,000. Norden Group LLC purchased a new position in Azenta in the first quarter worth about $1,720,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Azenta during the first quarter worth approximately $38,000. 99.08% of the stock is currently owned by 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.