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Azenta Inc. (NASDAQ: AZTA): Aiming For A Higher Share Price

Azenta Inc. (NASDAQ:AZTA) shares, rose in value on Friday, 05/13/22, with the stock price up by 4.92% to the previous day’s close as strong demand from buyers drove the stock to $75.12.

Actively observing the price movement in the last trading, the stock closed the session at $71.60, falling within a range of $72.78 and $76.46. The value of beta (5-year monthly) was 1.76. Referring to stock’s 52-week performance, its high was $124.79, and the low was $61.35. On the whole, AZTA has fluctuated by -5.30% over the past month.

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With the market capitalization of Azenta Inc. currently standing at about $5.79 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jan 31, 2022 – Feb 04, 2022. The company’s Forward Dividend Ratio is 0.40, with its dividend yield at 0.53%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.08, which is expected to increase to $0.13 for fiscal year $0.59 and then to about $1.17 by fiscal year 2023. Data indicates that the EPS growth is expected to be -77.10% in 2023, while the next year’s EPS growth is forecast to be 98.30%.

Analysts have estimated the company’s revenue for the quarter at $135.34 million, with a low estimate of $133.7 million and a high estimate of $138.7 million. According to the average forecast, sales growth in current quarter could jump down -45.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $582.2 million, representing a decrease of -51.20% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AZTA’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AZTA currently trading nearly 0.33% and -5.74% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.26, while the 7-day volatility ratio is showing 7.93% which for the 30-day chart, stands at 5.36%. Furthermore, Azenta Inc. (AZTA)’s beta value is 1.64, and its average true range (ATR) is 4.18.

A comparison of Azenta Inc. (AZTA) with its peers suggests the former has fared considerably weaker in the market. AZTA showed an intraday change of 4.92% in last session, and over the past year, it shrunk by -18.45%%. In comparison, NVIDIA Corporation (NVDA) has moved higher at 9.47% on the day and was up 24.31% over the past 12 months. On the other hand, the price of Broadcom Inc. (AVGO) has risen 2.92% on the day. The stock, however, is off 33.20% from where it was a year ago. Additionally, there is a gain of 2.40% for QUALCOMM Incorporated (QCOM) in last trading while the stock has seen an overall depriciation of 3.67%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.47%.

Data on historical trading for Azenta Inc. (NASDAQ:AZTA) indicates that the trading volumes over the past 10 days have averaged 0.73 million and over the past 3 months, they’ve averaged 515.28K. According to company’s latest data on outstanding shares, there are 74.63 million shares outstanding.

Nearly 1.20% of Azenta Inc.’s shares belong to company insiders and institutional investors own 97.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.16 million shares as on Feb 14, 2022, resulting in a short ratio of 3.47. According to the data, the short interest in Azenta Inc. (AZTA) stood at 2.89% of shares outstanding as of Feb 14, 2022; the number of short shares registered in Jan 13, 2022 reached 1.35 million. The stock has fallen by -27.15% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AZTA stock heading into the next quarter.

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