Alpha Teknova, Inc. (NASDAQ:TKNO) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Alpha Teknova, with three buys, one hold, and one sell; the average 12-month price target is $8.00.
• Institutional investors recently initiated positions, including BlackRock’s approximately $5.0 million stake and Bank of America’s $1.45 million investment. Institutions and hedge funds collectively own 13.81% of the company.
• Alpha Teknova’s latest quarterly results exceeded expectations, reporting a loss of $0.06 per share versus the $0.08 estimate and revenue of $12.19 million versus the $10.95 million consensus.

Alpha Teknova, Inc. (NASDAQ:TKNO - Get Free Report) has been given a consensus recommendation of "Hold" by the five ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $8.00.

Several analysts have recently issued reports on the stock. Roth Capital assumed coverage on shares of Alpha Teknova in a research note on Wednesday, August 5th. They set a "buy" rating and a $7.00 price objective for the company. Wall Street Zen raised Alpha Teknova from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings cut Alpha Teknova from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Jefferies Financial Group initiated coverage on Alpha Teknova in a report on Thursday, September 17th. They issued a "buy" rating and a $9.00 target price on the stock. Finally, BTIG Research raised Alpha Teknova from a "neutral" rating to a "buy" rating and set a $8.00 price target for the company in a research report on Tuesday, August 11th.

Institutional Investors Weigh In On Alpha Teknova

Institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new stake in Alpha Teknova during the 2nd quarter worth $115,000. Bank of America Corp DE acquired a new stake in Alpha Teknova during the 2nd quarter valued at approximately $1,453,000. Ieq Capital LLC acquired a new stake in Alpha Teknova during the 2nd quarter valued at approximately $62,000. BlackRock Inc. purchased a new stake in Alpha Teknova during the 2nd quarter worth approximately $4,997,000. Finally, Deutsche Bank AG purchased a new stake in Alpha Teknova during the 2nd quarter worth approximately $62,000. 13.81% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Teknova Stock Performance

Shares of TKNO opened at $8.84 on Monday. The company has a market capitalization of $473.91 million, a PE ratio of -28.52 and a beta of 0.85. The stock has a fifty day moving average of $7.54 and a two-hundred day moving average of $5.41. Alpha Teknova has a fifty-two week low of $1.91 and a fifty-two week high of $9.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.48 and a current ratio of 4.49.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm 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, analysts forecast that Alpha Teknova will post -0.28 EPS for the current year.

About Alpha Teknova

Alpha Teknova, Inc develops and manufactures critical reagents and process solutions used in life sciences research, biopharmaceutical production, cell and gene therapies, vaccines, and molecular diagnostics. The company serves customers that require specialized materials for developing, scaling, and commercializing biological products.

Its product portfolio includes research-grade and current good manufacturing practice (cGMP) buffers, reagents, media, and other process fluids. Alpha Teknova also provides custom formulation, development, manufacturing, and packaging services designed to support applications ranging from laboratory research to regulated commercial production.

Founded in 1996 and headquartered in Hollister, California, Alpha Teknova serves biotechnology, pharmaceutical, diagnostic, academic, and research customers.

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