Azenta (NASDAQ:AZTA) Stock Falls 7.1% – Should You Sell?

Azenta, Inc. (NASDAQ:AZTA) was down 7.1% during trading on Tuesday. The stock traded as low as $40.35 and last traded at $39.6810. 1,032,886 shares were traded during trading, an increase of 11% from the average daily volume of 927,745 shares. The stock had previously closed at $42.73.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price objective on shares of Azenta in a research note on Monday, September 14th. Weiss Ratings upgraded shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 26th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Azenta has a consensus rating of “Hold” and an average target price of $41.20.

Azenta Stock Performance

The firm’s 50 day moving average is $33.26 and its 200-day moving average is $26.70. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.00 and a beta of 1.52.

Azenta (NASDAQ:AZTA) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $161.18 million during the quarter, compared to analysts’ expectations of $149.31 million. Azenta had a negative net margin of 20.63% and a positive return on equity of 1.18%.

Hedge Funds Weigh In On Azenta

A number of large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its holdings in Azenta by 98.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company’s stock valued at $46,000 after purchasing an additional 689 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Azenta during the 2nd quarter valued at approximately $39,000. State of Wyoming acquired a new stake in Azenta in the 1st quarter valued at $38,000. Allworth Financial LP acquired a new stake in Azenta in the 2nd quarter valued at $48,000. Finally, KBC Group NV increased its holdings in Azenta by 102.2% in the 1st quarter. KBC Group NV now owns 2,449 shares of the company’s stock worth $52,000 after acquiring an additional 1,238 shares in the last quarter. Institutional investors and hedge funds own 99.08% of the company’s stock.

Azenta Company Profile

Azenta, Inc (NASDAQ: AZTA) is a life sciences company that provides products and services for the management, storage, and analysis of biological and chemical samples. Its offerings support pharmaceutical and biotechnology companies, academic and government research institutions, clinical research organizations, and other laboratories.

The company’s products include automated sample storage systems, laboratory automation equipment, sample-management software, consumables, and cold-storage solutions designed to preserve and track biological materials.