Azenta (NASDAQ:AZTA) Sets New 12-Month Low – Here’s What Happened

Azenta, Inc. (NASDAQ:AZTA) reached a new 52-week low during trading on Tuesday . The stock traded as low as $15.93 and last traded at $16.24, with a volume of 2277305 shares traded. The stock had previously closed at $16.02.

Wall Street Analyst Weigh In

AZTA has been the subject of several research analyst reports. Wall Street Zen downgraded Azenta from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Needham & Company LLC cut their price target on Azenta from $44.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. TD Cowen restated a “hold” rating on shares of Azenta in a research note on Wednesday, February 4th. Zacks Research upgraded Azenta from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Jefferies Financial Group cut their price target on Azenta from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.50.

Azenta Trading Up 1.4%

The stock has a 50 day simple moving average of $21.94 and a 200-day simple moving average of $29.33. The firm has a market capitalization of $748.55 million, a P/E ratio of -4.10 and a beta of 1.43.

Azenta (NASDAQ:AZTA) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). The firm had revenue of $144.80 million for the quarter, compared to the consensus estimate of $148.47 million. Azenta had a negative net margin of 30.49% and a positive return on equity of 1.23%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Assetmark Inc. lifted its position in shares of Azenta by 54.1% during the 4th quarter. Assetmark Inc. now owns 832 shares of the company’s stock valued at $28,000 after buying an additional 292 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Azenta by 44.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock valued at $39,000 after buying an additional 385 shares in the last quarter. CWM LLC lifted its position in shares of Azenta by 27.3% during the 4th quarter. CWM LLC now owns 1,822 shares of the company’s stock valued at $61,000 after buying an additional 391 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Azenta by 6.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 7,695 shares of the company’s stock valued at $221,000 after buying an additional 451 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Azenta by 10.5% during the 1st quarter. Empowered Funds LLC now owns 6,482 shares of the company’s stock valued at $225,000 after buying an additional 618 shares in the last quarter. 99.08% of the stock is owned by hedge funds and other institutional investors.

About Azenta

Azenta, Inc (NASDAQ: AZTA) is a life sciences technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end‐to‐end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta’s Genomics business delivers next‐generation sequencing (NGS), DNA synthesis, and molecular biology services.