Azenta, Inc. (NASDAQ:AZTA) Short Interest Update

Azenta, Inc. (NASDAQ:AZTA) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 4,850,000 shares, a growth of 6.1% from the July 31st total of 4,570,000 shares. Approximately 10.1% of the shares of the stock are sold short. Based on an average daily volume of 535,400 shares, the days-to-cover ratio is currently 9.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Otter Creek Advisors LLC acquired a new position in Azenta during the 4th quarter worth about $1,511,000. Redwood Investment Management LLC purchased a new position in shares of Azenta in the first quarter valued at approximately $1,497,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Azenta in the first quarter valued at approximately $615,000. Lighthouse Investment Partners LLC acquired a new position in shares of Azenta in the fourth quarter valued at approximately $1,973,000. Finally, Edgestream Partners L.P. increased its stake in 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 buying an additional 50,479 shares during the period. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AZTA. Needham & Company LLC reiterated a “buy” rating and set a $69.00 price objective on shares of Azenta in a research report on Wednesday, August 7th. Evercore ISI lifted their price target on Azenta from $52.00 to $53.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.00.

Azenta Trading Down 3.3 %

Shares of AZTA opened at $47.89 on Wednesday. The company’s 50-day moving average price is $53.51 and its 200 day moving average price is $55.41. Azenta has a 12-month low of $44.00 and a 12-month high of $69.16. The firm has a market cap of $2.58 billion, a P/E ratio of -17.67 and a beta of 1.51.

Azenta (NASDAQ:AZTA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Azenta had a negative net margin of 23.66% and a positive return on equity of 0.89%. The business had revenue of $173.00 million for the quarter, compared to the consensus estimate of $166.14 million. During the same period in the previous year, the firm earned $0.13 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that Azenta will post 0.32 earnings per share for the current year.

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.