Alpha Teknova, Inc. (NASDAQ:TKNO) Receives Average Recommendation of “Hold” from Brokerages

Alpha Teknova, Inc. (NASDAQ:TKNO) has earned a consensus rating of “Hold” from the five research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $8.00.

TKNO has been the topic of a number of recent research reports. Wall Street Zen upgraded Alpha Teknova from a “hold” rating to a “buy” rating in a research 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. Roth Capital started coverage on Alpha Teknova in a research report on Wednesday, August 5th. They issued a “buy” rating and a $7.00 price target for the company. Zacks Research raised shares of Alpha Teknova to a “hold” rating in a research note on Thursday, August 6th. Finally, BTIG Research upgraded shares of Alpha Teknova from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Tuesday, August 11th.

Institutional Trading of Alpha Teknova

Several institutional investors have recently added to or reduced their stakes in TKNO. Roubaix Capital LLC grew its stake in shares of Alpha Teknova by 88.5% during the first quarter. Roubaix Capital LLC now owns 1,882,355 shares of the company’s stock valued at $5,440,000 after buying an additional 883,823 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Alpha Teknova during the 2nd quarter worth approximately $4,997,000. Bank of America Corp DE purchased a new position in Alpha Teknova during the 2nd quarter valued at $1,453,000. Royce & Associates LP purchased a new position in Alpha Teknova during the 4th quarter valued at $1,116,000. Finally, Bank of New York Mellon Corp bought a new position in Alpha Teknova in the 2nd quarter valued at $604,000. Institutional investors own 13.81% of the company’s stock.

Alpha Teknova Stock Performance

Shares of NASDAQ:TKNO opened at $8.93 on Thursday. The firm has a fifty day simple moving average of $6.63 and a two-hundred day simple moving average of $4.88. Alpha Teknova has a 52 week low of $1.91 and a 52 week high of $9.35. The company has a quick ratio of 3.48, a current ratio of 4.49 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $478.74 million, a P/E ratio of -28.81 and a beta of 0.72.

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

Alpha Teknova Company Profile

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.