Alpha Teknova, Inc. (NASDAQ:TKNO) Given Average Rating of “Hold” by Analysts

Alpha Teknova, Inc. (NASDAQ:TKNO) has been given a consensus recommendation of “Hold” by the five research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $7.50.

Several research firms have recently commented on TKNO. Jefferies Financial Group assumed coverage on Alpha Teknova in a research note on Thursday. They issued a “buy” rating for the company. Weiss Ratings lowered shares of Alpha Teknova from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Alpha Teknova from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Roth Capital began coverage on shares of Alpha Teknova in a research note on Wednesday, August 5th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Zacks Research upgraded shares of Alpha Teknova to a “hold” rating in a report on Thursday, August 6th.

Alpha Teknova Stock Up 3.0%

Shares of TKNO opened at $7.11 on Thursday. The business’s 50 day simple moving average is $6.34 and its 200-day simple moving average is $4.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.49 and a quick ratio of 3.48. The company has a market capitalization of $381.17 million, a P/E ratio of -22.93 and a beta of 0.72. Alpha Teknova has a one year low of $1.91 and a one year high of $7.84.

Alpha Teknova (NASDAQ:TKNO) last announced its earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $12.19 million during the quarter, compared to analyst estimates of $10.95 million. Alpha Teknova had a negative return on equity of 24.94% and a negative net margin of 38.37%. As a group, sell-side analysts predict that Alpha Teknova will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Alpha Teknova during the 2nd quarter worth approximately $4,997,000. Roubaix Capital LLC raised its stake in Alpha Teknova by 88.5% in the 1st quarter. Roubaix Capital LLC now owns 1,882,355 shares of the company’s stock worth $5,440,000 after purchasing an additional 883,823 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Alpha Teknova in the second quarter valued at approximately $604,000. Royce & Associates LP bought a new stake in shares of Alpha Teknova during the 4th quarter valued at $1,116,000. Finally, Bank of America Corp DE acquired a new stake in Alpha Teknova during the second quarter worth about $1,453,000. Institutional investors own 13.81% of the company’s stock.

About Alpha Teknova

Alpha Teknova, Inc (NASDAQ: TKNO) develops and manufactures critical reagents and solutions used in life sciences research, biopharmaceutical development, and laboratory testing. The company supplies ready-to-use and custom-formulated biological buffers, media, process liquids, and other high-purity reagents designed to support research and production workflows.

Its products and services are used across applications including cell and gene therapy, molecular diagnostics, next-generation sequencing, vaccine development, and other genomics and bioprocessing activities.