Alpha Teknova (NASDAQ:TKNO) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded Alpha Teknova to “Hold,” while ratings remain mixed: Wall Street Zen issued a “Buy,” Weiss Ratings maintained a “Sell,” and Roth Capital initiated coverage with a $7 price target. The consensus rating is “Hold,” with an average target of $7.00.
• Alpha Teknova’s latest quarterly results exceeded expectations, reporting a loss of $0.06 per share versus the expected $0.08 loss and revenue of $12.19 million versus estimates of $10.95 million. However, the company continues to post negative profitability metrics, including a 38.37% net margin.
• The stock opened at $6.46 and has risen substantially from its 12-month low of $1.91, nearing its $6.68 high. Institutional ownership stands at 13.81%, with BlackRock and several other institutions establishing or expanding positions during the second quarter.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) was upgraded by stock analysts at Zacks Research to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

TKNO has been the topic of a number of other reports. Wall Street Zen raised shares of Alpha Teknova from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings restated a "sell (d-)" rating on shares of Alpha Teknova in a report on Friday, July 17th. Finally, Roth Capital assumed coverage on Alpha Teknova in a research report on Wednesday. They set a "buy" rating and a $7.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $7.00.

Alpha Teknova Price Performance

Shares of TKNO opened at $6.46 on Thursday. Alpha Teknova has a 12-month low of $1.91 and a 12-month high of $6.68. The business has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $3.75. The company has a quick ratio of 3.60, a current ratio of 4.59 and a debt-to-equity ratio of 0.20. The stock has a market cap of $346.32 million, a PE ratio of -20.84 and a beta of 0.64.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The firm had revenue of $12.19 million for the quarter, compared to analyst estimates of $10.95 million. Alpha Teknova had a negative return on equity of 24.38% and a negative net margin of 38.37%. Analysts anticipate that Alpha Teknova will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Alpha Teknova in the 2nd quarter valued at $4,997,000. Deutsche Bank AG acquired a new position in Alpha Teknova in the second quarter valued at $62,000. Fielder Capital Group LLC acquired a new position in Alpha Teknova in the second quarter valued at $143,000. Bank of New York Mellon Corp bought a new stake in Alpha Teknova during the second quarter valued at $604,000. Finally, GSA Capital Partners LLP bought a new stake in Alpha Teknova during the second quarter valued at $303,000. Institutional investors and hedge funds own 13.81% of the company's stock.

Alpha Teknova Company Profile

Alpha Teknova, Inc NASDAQ: TKNO is a life science tools and reagents company that develops, manufactures and distributes proprietary products to support research, drug discovery and biomanufacturing. Its offerings target academic institutions, pharmaceutical and biotechnology firms, and diagnostic developers, with a focus on high-purity reagents and optimized workflows designed to accelerate molecular biology and protein science applications.

The company's portfolio includes molecular biology reagents, cell culture buffers, in vitro translation kits, custom recombinant proteins, high-throughput screening buffers and other specialized formulations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source