Azenta (NASDAQ:AZTA) Shares Down 7.1% – Here’s Why
by Renee Jackson · The Cerbat GemAzenta, Inc. (NASDAQ:AZTA – Get Free Report) shares were down 7.1% on Tuesday. The stock traded as low as $40.35 and last traded at $39.6810. Approximately 1,032,886 shares were traded during trading, an increase of 11% from the average session volume of 927,745 shares. The stock had previously closed at $42.73.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Weiss Ratings raised shares of Azenta from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 26th. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 price target on shares of Azenta in a research note on Monday, September 14th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.20.
Get Our Latest Research Report on AZTA
Azenta Trading Down 6.7%
The company has a market capitalization of $1.75 billion, a P/E ratio of -14.50 and a beta of 1.52. The company has a 50 day moving average price of $32.90 and a 200 day moving average price of $26.47.
Azenta (NASDAQ:AZTA – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Azenta had a negative net margin of 20.63% and a positive return on equity of 1.18%. The firm had revenue of $161.18 million during the quarter, compared to the consensus estimate of $149.31 million.
Hedge Funds Weigh In On Azenta
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in Azenta during the second quarter valued at $39,000. Corient Private Wealth LP acquired a new position in shares of Azenta during the second quarter valued at about $508,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Azenta in the 2nd quarter valued at about $697,000. Kerrisdale Advisers LLC lifted its holdings in shares of Azenta by 1,419.5% in the 2nd quarter. Kerrisdale Advisers LLC now owns 290,682 shares of the company’s stock worth $7,418,000 after purchasing an additional 271,552 shares in the last quarter. Finally, Moore Capital Management LP bought a new stake in Azenta during the 2nd quarter valued at $1,569,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.
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.