Azenta, Inc. (NASDAQ:AZTA) Short Interest Down 10.6% in September

Azenta, Inc. (NASDAQ:AZTA) saw a large drop in short interest during 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 trading volume, of 579,000 shares, the days-to-cover ratio is currently 8.3 days. Currently, 10.1% of the shares of the company are sold short.

Azenta Stock Down 2.3 %

Shares of NASDAQ:AZTA opened at $43.98 on Thursday. The company has a market cap of $2.37 billion, a PE ratio of -16.23 and a beta of 1.47. The company’s 50-day moving average price is $48.57 and its 200 day moving average price is $52.14. Azenta has a fifty-two week low of $43.65 and a fifty-two week high of $69.16.

Azenta (NASDAQ:AZTA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $173.00 million for the quarter, compared to the consensus estimate of $166.14 million. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. Azenta’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. As a group, equities analysts anticipate that Azenta will post 0.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AZTA. Evercore ISI cut 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 report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $69.00 price objective on shares of Azenta in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.40.

Institutional Trading of Azenta

Several institutional investors have recently made changes to their positions in AZTA. Redwood Investment Management LLC acquired a new stake in Azenta in the first quarter valued at approximately $1,497,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Azenta in the 1st quarter worth about $615,000. Edgestream Partners L.P. grew its holdings in shares of Azenta by 618.2% in the 1st quarter. Edgestream Partners L.P. now owns 58,644 shares of the company’s stock worth $3,535,000 after purchasing an additional 50,479 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Azenta in the 1st quarter worth about $1,401,000. Finally, Nordea Investment Management AB grew its holdings in shares of Azenta by 10.5% in the 1st quarter. Nordea Investment Management AB now owns 71,855 shares of the company’s stock worth $4,386,000 after purchasing an additional 6,833 shares during the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.

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.