Alpha Teknova (NASDAQ:TKNO) Stock Price Down 11%

Shares of Alpha Teknova, Inc. (NASDAQ:TKNO - Get Free Report) were down 11% on Tuesday . The company traded as low as $2.41 and last traded at $2.50. Approximately 118,217 shares traded hands during trading, an increase of 702% from the average daily volume of 14,735 shares. The stock had previously closed at $2.81.

Analyst Upgrades and Downgrades

Separately, BTIG Research lowered shares of Alpha Teknova from a "buy" rating to a "neutral" rating in a research note on Tuesday, March 12th.

Alpha Teknova Price Performance

The stock's 50 day moving average is $3.00 and its two-hundred day moving average is $2.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.14 and a quick ratio of 3.84. The stock has a market capitalization of $102.05 million, a PE ratio of -2.16 and a beta of 0.23.

Alpha Teknova (NASDAQ:TKNO - Get Free Report) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $7.87 million for the quarter, compared to analyst estimates of $8.20 million. Alpha Teknova had a negative net margin of 100.26% and a negative return on equity of 38.12%.

Hedge Funds Weigh In On Alpha Teknova

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Alpha Teknova by 27.9% during the first quarter. JPMorgan Chase & Co. now owns 6,571 shares of the company's stock worth $91,000 after acquiring an additional 1,435 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Alpha Teknova by 21.6% during the second quarter. Goldman Sachs Group Inc. now owns 12,806 shares of the company's stock worth $108,000 after acquiring an additional 2,279 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Alpha Teknova by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 126,055 shares of the company's stock worth $710,000 after acquiring an additional 2,593 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Alpha Teknova by 15.9% during the second quarter. Schonfeld Strategic Advisors LLC now owns 45,300 shares of the company's stock worth $121,000 after acquiring an additional 6,200 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in shares of Alpha Teknova by 4.1% during the fourth quarter. Conestoga Capital Advisors LLC now owns 247,529 shares of the company's stock worth $923,000 after acquiring an additional 9,800 shares during the last quarter. 13.81% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Teknova Company Profile

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.