Alpha Teknova (NASDAQ:TKNO) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Alpha Teknova from “hold” to “buy,” while analyst sentiment remains mixed; MarketBeat’s consensus rating is still “Hold” with a $7.00 target price.
• Alpha Teknova’s latest quarterly results exceeded expectations, reporting an adjusted loss of $0.06 per share versus the $0.08 estimate and revenue of $12.19 million versus the $10.95 million forecast.
• The stock opened at $6.46, near its 12-month high of $6.68, after rising above its 50-day and 200-day moving averages; institutional investors own 13.81% of the company.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued research reports about the company. Roth Capital assumed coverage on Alpha Teknova in a research note on Wednesday. They set a "buy" rating and a $7.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alpha Teknova in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.00.

Alpha Teknova Stock Down 1.1%

TKNO opened at $6.46 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.59 and a quick ratio of 3.60. Alpha Teknova has a 12 month low of $1.91 and a 12 month high of $6.68. The stock has a market capitalization of $346.32 million, a P/E ratio of -20.84 and a beta of 0.64. The business has a 50 day simple moving average of $5.23 and a 200-day simple moving average of $3.75.

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

Institutional Trading of Alpha Teknova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP boosted its position in Alpha Teknova by 25.0% during the 3rd quarter. Susquehanna International Group LLP now owns 16,206 shares of the company's stock worth $100,000 after purchasing an additional 3,246 shares during the period. Larson Financial Group LLC lifted its stake in shares of Alpha Teknova by 58.5% during the third quarter. Larson Financial Group LLC now owns 9,387 shares of the company's stock worth $58,000 after purchasing an additional 3,464 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alpha Teknova by 123.1% in the second quarter. JPMorgan Chase & Co. now owns 8,163 shares of the company's stock worth $40,000 after buying an additional 4,504 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Alpha Teknova by 7.9% in the third quarter. Bridgeway Capital Management LLC now owns 80,900 shares of the company's stock worth $501,000 after buying an additional 5,900 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Alpha Teknova in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 13.81% of the company's stock.

About Alpha Teknova

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.

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