Alpha Teknova, Inc. (NASDAQ:TKNO) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts collectively rate Alpha Teknova “Hold,” with one sell, one hold, and three buy recommendations. The average 12-month price target is $7.50, compared with the stock’s reported price of $7.11.
• Institutional ownership increased as Roubaix Capital raised its stake by 88.5%, while BlackRock, Royce & Associates, Bank of America, and Bank of New York Mellon established new positions. Institutions collectively own 13.81% of the company.
• Alpha Teknova exceeded quarterly expectations, reporting a loss of $0.06 per share versus the estimated $0.08 loss and revenue of $12.19 million versus the $10.95 million consensus estimate. Despite the revenue beat, the company continues to report negative profitability metrics.

Alpha Teknova, Inc. (NASDAQ:TKNO - Get Free Report) has received an average recommendation of "Hold" from the five ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $7.50.

Several research analysts have 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 for the company. 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 note on Tuesday, August 11th. Wall Street Zen upgraded Alpha Teknova from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Zacks Research raised shares of Alpha Teknova to a "hold" rating in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Alpha Teknova from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Roubaix Capital LLC raised its holdings 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 worth $5,440,000 after acquiring an additional 883,823 shares in the last quarter. BlackRock Inc. bought a new stake in Alpha Teknova during the 2nd quarter valued at approximately $4,997,000. Royce & Associates LP acquired a new stake in shares of Alpha Teknova in the fourth quarter worth $1,116,000. Bank of America Corp DE acquired a new stake in Alpha Teknova in the 2nd quarter worth $1,453,000. Finally, Bank of New York Mellon Corp bought a new position in Alpha Teknova during the second quarter valued at about $604,000. Hedge funds and other institutional investors own 13.81% of the company's stock.

Alpha Teknova Trading Up 3.0%

NASDAQ TKNO opened at $7.11 on Thursday. The company has a market capitalization of $381.17 million, a price-to-earnings ratio of -22.93 and a beta of 0.72. Alpha Teknova has a 12 month low of $1.91 and a 12 month high of $7.84. The company's fifty day moving average price is $6.34 and its two-hundred day moving average price is $4.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.49 and a quick ratio of 3.48.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The company had revenue of $12.19 million for the quarter, compared to the consensus estimate of $10.95 million. Alpha Teknova had a negative return on equity of 24.94% and a negative net margin of 38.37%. As a group, research analysts predict that Alpha Teknova will post -0.28 earnings per share for the current fiscal year.

About Alpha Teknova

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.

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