Alpha Teknova (NASDAQ:TKNO) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Alpha Teknova, Inc. (NASDAQ:TKNO) crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $7.72 and traded as high as $8.03. Alpha Teknova shares last traded at $7.88, with a volume of 1,065,890 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Roth Capital started coverage on shares of Alpha Teknova in a report on Wednesday, August 5th. They issued a “buy” rating and a $7.00 price target on the stock. Wall Street Zen raised Alpha Teknova from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings lowered Alpha Teknova from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Zacks Research raised Alpha Teknova to a “hold” rating in a research report on Thursday, August 6th. Finally, TD Cowen boosted their target price on Alpha Teknova from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Alpha Teknova Stock Up 6.9%

The stock’s 50 day moving average is $7.72 and its 200 day moving average is $4.96. The company has a market capitalization of $423.18 million, a PE ratio of -27.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.48 and a current ratio of 4.49.

Alpha Teknova (NASDAQ:TKNO) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Alpha Teknova had a negative net margin of 34.76% and a negative return on equity of 24.41%. The business had revenue of $12.70 million during the quarter, compared to analyst estimates of $11.71 million. On average, sell-side analysts anticipate that Alpha Teknova, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Trading of Alpha Teknova

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG purchased a new position in Alpha Teknova during the 2nd quarter valued at about $62,000. Ieq Capital LLC bought a new stake in shares of Alpha Teknova during the second quarter valued at about $62,000. R Squared Ltd bought a new stake in shares of Alpha Teknova during the first quarter valued at about $42,000. Susquehanna International Group LLP purchased a new stake in shares of Alpha Teknova in the second quarter worth about $115,000. Finally, Fielder Capital Group LLC purchased a new stake in shares of Alpha Teknova in the second quarter worth about $143,000. 13.81% of the stock is currently owned by institutional investors.

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.