Azenta (NASDAQ:AZTA) Hits New 12-Month Low – Should You Sell?

Azenta, Inc. (NASDAQ:AZTA)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $31.82 and last traded at $32.33, with a volume of 55500 shares changing hands. The stock had previously closed at $35.41.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AZTA shares. Needham & Company LLC boosted their price objective on Azenta from $55.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, February 6th. TD Cowen upgraded shares of Azenta to a “hold” rating in a report on Thursday, February 27th. Stephens reiterated an “overweight” rating and set a $60.00 price objective on shares of Azenta in a report on Thursday, January 2nd. Finally, Evercore ISI upped their target price on shares of Azenta from $50.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th.

Azenta Stock Performance

The firm has a market capitalization of $1.33 billion, a P/E ratio of -9.77 and a beta of 1.52. The firm has a 50 day simple moving average of $43.01 and a two-hundred day simple moving average of $45.77.

Azenta (NASDAQ:AZTA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Azenta had a negative net margin of 24.91% and a positive return on equity of 1.25%. Sell-side analysts anticipate that Azenta, Inc. will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its stake in shares of Azenta by 355.2% during 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 purchased a new position in Azenta in the fourth quarter valued at about $313,000. KLP Kapitalforvaltning AS bought a new position in shares of Azenta during the 4th quarter valued at approximately $530,000. SG Americas Securities LLC bought a new position in shares of Azenta during the 4th quarter valued at approximately $813,000. Finally, Conestoga Capital Advisors LLC increased 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 purchasing an additional 621,830 shares during the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.

About Azenta

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.