Azenta (NASDAQ:AZTA) Shares Gap Down – Here’s Why

Shares of Azenta, Inc. (NASDAQ:AZTA) gapped down prior to trading on Monday . The stock had previously closed at $37.40, but opened at $33.32. Azenta shares last traded at $33.33, with a volume of 205,369 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC raised their price target on Azenta from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of Azenta from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.20.

Azenta Stock Performance

The company has a fifty day moving average of $28.32 and a two-hundred day moving average of $25.07. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -12.03 and a beta of 1.37.

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

Institutional Investors Weigh In On Azenta

A number of large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Azenta by 2,067.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 802 shares of the company’s stock worth $27,000 after acquiring an additional 765 shares during the period. Assetmark Inc. boosted its holdings in shares of Azenta by 54.1% during the 4th quarter. Assetmark Inc. now owns 832 shares of the company’s stock valued at $28,000 after acquiring an additional 292 shares in the last quarter. State of Wyoming bought a new stake in shares of Azenta during the first quarter worth about $38,000. Osaic Holdings Inc. grew its holdings in Azenta by 44.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,242 shares of the company’s stock worth $39,000 after acquiring an additional 385 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Azenta by 98.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,392 shares of the company’s stock worth $46,000 after purchasing an additional 689 shares during the last quarter. 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 technology company specializing in sample management, cryogenic storage and genomic services for research and clinical applications. Formerly the Life Sciences division of Brooks Automation, Azenta provides integrated solutions that enable customers to store, track and analyze biological samples with high levels of automation, data integrity and efficiency. Its offerings span automated storage systems, biorepository management software and end‐to‐end sample tracking workflows.

In addition to hardware and informatics platforms for sample storage, Azenta’s Genomics business delivers next‐generation sequencing (NGS), DNA synthesis, and molecular biology services.