Alpha Teknova (NASDAQ:TKNO) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Alpha Teknova (NASDAQ:TKNO) announced its earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01, FiscalAI reports. Alpha Teknova had a negative return on equity of 24.94% and a negative net margin of 38.37%. The company had revenue of $12.70 million for the quarter, compared to analyst estimates of $11.71 million.

Alpha Teknova Stock Up 0.4%

Shares of NASDAQ TKNO traded up $0.03 during mid-day trading on Wednesday, hitting $7.37. The company had a trading volume of 371,985 shares, compared to its average volume of 259,286. The company has a market capitalization of $395.77 million, a PE ratio of -23.77 and a beta of 0.96. The business’s 50-day simple moving average is $7.71 and its 200 day simple moving average is $4.92. Alpha Teknova has a 1-year low of $1.91 and a 1-year high of $9.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.49 and a quick ratio of 3.48.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TKNO shares. BTIG Research upgraded Alpha Teknova from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Tuesday, August 11th. Zacks Research raised Alpha Teknova to a “hold” rating in a research report on Thursday, August 6th. Roth Capital initiated coverage on Alpha Teknova in a research report on Wednesday, August 5th. They issued a “buy” rating and a $7.00 target price for the company. Wall Street Zen upgraded shares of Alpha Teknova from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut shares of Alpha Teknova from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alpha Teknova presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

About Alpha Teknova

Alpha Teknova, Inc is a life sciences company that develops and manufactures critical reagents and other products used in biomedical research, biopharmaceutical development and advanced therapies. The company provides laboratory and production materials designed to support applications including cell and gene therapy, molecular diagnostics, next-generation sequencing, vaccine development and pharmaceutical manufacturing.

Its offerings include research-use-only and current Good Manufacturing Practice (cGMP) reagents, buffers, media and other custom-formulated solutions.