Equities research analysts at Stephens initiated coverage on shares of Alpha Teknova (NASDAQ:TKNO - Get Free Report) in a research note issued to investors on Tuesday. The brokerage set an "overweight" rating and a $8.00 price target on the stock. Stephens' price target indicates a potential upside of 84.33% from the stock's previous close.
Alpha Teknova Stock Performance
Shares of Alpha Teknova stock traded up $0.23 on Tuesday, hitting $4.34. The stock had a trading volume of 183,636 shares, compared to its average volume of 374,051. The company has a current ratio of 5.64, a quick ratio of 4.71 and a debt-to-equity ratio of 0.17. The company's 50 day moving average price is $5.58 and its 200 day moving average price is $6.43. Alpha Teknova has a 52-week low of $2.15 and a 52-week high of $10.37. The stock has a market cap of $231.93 million, a price-to-earnings ratio of -9.04 and a beta of 0.33.
Alpha Teknova (NASDAQ:TKNO - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The firm had revenue of $9.60 million for the quarter, compared to analysts' expectations of $9.41 million. Alpha Teknova had a negative return on equity of 28.48% and a negative net margin of 60.90%. On average, research analysts anticipate that Alpha Teknova will post -0.58 EPS for the current year.
Insider Buying and Selling
In other news, Director Martha J. Demski sold 8,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $5.06, for a total transaction of $40,480.00. Following the completion of the sale, the director owned 12,000 shares of the company's stock, valued at approximately $60,720. This represents a 40.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.50% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TKNO. Larson Financial Group LLC bought a new stake in shares of Alpha Teknova during the first quarter valued at approximately $30,000. JPMorgan Chase & Co. boosted its holdings in Alpha Teknova by 622.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,400 shares of the company's stock valued at $37,000 after purchasing an additional 3,791 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new stake in shares of Alpha Teknova during the first quarter valued at $59,000. McAdam LLC acquired a new stake in Alpha Teknova during the 1st quarter valued at approximately $60,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Alpha Teknova in the 1st quarter worth $76,000. 13.81% of the stock is currently owned by hedge funds and other institutional investors.
About Alpha Teknova
(
Get Free Report)
Alpha Teknova, Inc produces critical reagents for the research, discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics in the United States and internationally. The company offers pre-poured media plates for cell growth and cloning; liquid cell culture media and supplements for cellular expansion; and molecular biology reagents for sample manipulation, resuspension, and purification.
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