Azenta (NASDAQ:AZTA) Shares Down 7.2% - What's Next?

Azenta, Inc. (NASDAQ:AZTA - Get Free Report)'s stock price was down 7.2% during trading on Thursday . The company traded as low as $31.83 and last traded at $30.50. Approximately 539,933 shares were traded during trading, a decline of 26% from the average daily volume of 732,290 shares. The stock had previously closed at $32.85.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC dropped their price target on shares of Azenta from $59.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th.

Azenta Stock Performance

The business has a 50-day simple moving average of $28.54 and a 200 day simple moving average of $37.76. The firm has a market cap of $1.44 billion, a P/E ratio of -22.61 and a beta of 1.64.

Azenta (NASDAQ:AZTA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.04). Azenta had a positive return on equity of 1.30% and a negative net margin of 10.31%. Azenta's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. On average, research analysts expect that Azenta, Inc. will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Azenta

A number of large investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Azenta by 8.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,842 shares of the company's stock worth $168,000 after buying an additional 396 shares in the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Azenta by 8.4% during the 4th quarter. Boothbay Fund Management LLC now owns 6,571 shares of the company's stock worth $329,000 after acquiring an additional 509 shares during the period. Picton Mahoney Asset Management raised its position in shares of Azenta by 305.7% in the 4th quarter. Picton Mahoney Asset Management now owns 706 shares of the company's stock worth $35,000 after acquiring an additional 532 shares in the last quarter. Empowered Funds LLC raised its position in shares of Azenta by 10.5% in the 1st quarter. Empowered Funds LLC now owns 6,482 shares of the company's stock worth $225,000 after acquiring an additional 618 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Azenta by 6.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 12,617 shares of the company's stock valued at $437,000 after purchasing an additional 756 shares during the period. 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.