Azenta, Inc. (NASDAQ:AZTA) Sees Large Decline in Short Interest

Azenta, Inc. (NASDAQ:AZTAGet Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 4,810,000 shares, a drop of 10.6% from the September 15th total of 5,380,000 shares. Based on an average daily volume of 579,000 shares, the days-to-cover ratio is currently 8.3 days. Approximately 10.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Evercore ISI dropped their price objective on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $69.00 target price on shares of Azenta in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Azenta currently has an average rating of “Hold” and an average target price of $66.40.

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Azenta Stock Performance

Shares of AZTA stock opened at $45.51 on Tuesday. The stock’s fifty day moving average is $49.02 and its two-hundred day moving average is $52.31. The firm has a market capitalization of $2.45 billion, a P/E ratio of -16.79 and a beta of 1.47. Azenta has a fifty-two week low of $43.65 and a fifty-two week high of $69.16.

Azenta (NASDAQ:AZTAGet Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $173.00 million for the quarter, compared to analyst estimates of $166.14 million. Azenta had a positive return on equity of 0.89% and a negative net margin of 23.66%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS. On average, equities analysts forecast that Azenta will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redwood Investment Management LLC purchased a new position in Azenta in the 1st quarter valued at $1,497,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Azenta during the 1st quarter worth $615,000. Edgestream Partners L.P. raised its holdings in shares of Azenta by 618.2% during the 1st quarter. Edgestream Partners L.P. now owns 58,644 shares of the company’s stock worth $3,535,000 after acquiring an additional 50,479 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Azenta during the 1st quarter worth $1,401,000. Finally, Nordea Investment Management AB raised its holdings in shares of Azenta by 10.5% during the 1st quarter. Nordea Investment Management AB now owns 71,855 shares of the company’s stock worth $4,386,000 after acquiring an additional 6,833 shares during the period. Hedge funds and other institutional investors own 99.08% of the company’s stock.

About Azenta

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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.

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