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

Azenta, Inc. (NASDAQ:AZTA)’s share price reached a new 52-week low on Thursday . The company traded as low as $35.06 and last traded at $35.47, with a volume of 95862 shares changing hands. The stock had previously closed at $36.41.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Needham & Company LLC boosted their target price on shares of Azenta from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. TD Cowen raised Azenta to a “hold” rating in a research note on Thursday, February 27th. Stephens restated an “overweight” rating and issued a $60.00 target price on shares of Azenta in a report on Thursday, January 2nd. Finally, Evercore ISI upped their price target on Azenta from $50.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.75.

Azenta Stock Performance

The company’s 50 day simple moving average is $45.82 and its 200 day simple moving average is $46.42. The stock has a market cap of $1.62 billion, a PE ratio of -11.86 and a beta of 1.52.

Azenta (NASDAQ:AZTA) last issued 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%. Equities research analysts expect that Azenta, Inc. will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its holdings in shares of Azenta by 355.2% in the 4th quarter. State of Alaska Department of Revenue now owns 25,899 shares of the company’s stock worth $1,294,000 after purchasing an additional 20,210 shares during the period. Stephens Inc. AR bought a new stake in shares of Azenta in the fourth quarter valued at $313,000. SG Americas Securities LLC purchased a new position in shares of Azenta during the 4th quarter valued at $813,000. Conestoga Capital Advisors LLC grew 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 acquiring an additional 621,830 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings 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 worth $65,922,000 after acquiring an additional 18,529 shares during the last quarter. 99.08% of the stock is currently 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.