Alpha Teknova (NASDAQ:TKNO) Share Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Alpha Teknova shares crossed above their 50-day moving average, reaching $7.89 and last trading at $7.86, compared with the $7.69 average.
• Analyst sentiment is generally positive: four analysts rate the stock Buy, one rates it Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $8.75. TD Cowen raised its target to $11.
• The company exceeded quarterly expectations, reporting a narrower-than-expected loss of $0.06 per share and revenue of $12.19 million versus the $10.95 million consensus estimate, though it remains unprofitable with a negative net margin.

Alpha Teknova, Inc. (NASDAQ:TKNO - Get Free Report)'s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $7.69 and traded as high as $7.89. Alpha Teknova shares last traded at $7.86, with a volume of 951,607 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TKNO shares. Jefferies Financial Group started coverage on Alpha Teknova in a report on Thursday, September 17th. They issued a "buy" rating and a $9.00 price target for the company. Roth Capital initiated coverage on Alpha Teknova in a research note on Wednesday, August 5th. They issued a "buy" rating and a $7.00 price target on the stock. TD Cowen upped their price objective on Alpha Teknova from $7.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, October 13th. Zacks Research upgraded Alpha Teknova to a "hold" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded Alpha Teknova from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.75.

Alpha Teknova Stock Performance

The company has a market capitalization of $422.11 million, a price-to-earnings ratio of -25.35 and a beta of 0.85. The stock has a fifty day moving average price of $7.69 and a two-hundred day moving average price of $4.85. The company has a quick ratio of 3.48, a current ratio of 4.49 and a debt-to-equity ratio of 0.21.

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 the consensus estimate of ($0.08) by $0.02. Alpha Teknova had a negative net margin of 38.37% and a negative return on equity of 24.94%. The firm had revenue of $12.19 million during the quarter, compared to analysts' expectations of $10.95 million. As a group, analysts forecast that Alpha Teknova, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpha Teknova

Several institutional investors have recently bought and sold shares of the business. Deutsche Bank AG acquired a new stake in shares of Alpha Teknova during the second quarter valued at about $62,000. Ieq Capital LLC acquired a new position in shares of Alpha Teknova in the second quarter worth about $62,000. R Squared Ltd acquired a new position in shares of Alpha Teknova in the first quarter worth about $42,000. Susquehanna International Group LLP purchased a new position in Alpha Teknova in the second quarter valued at about $115,000. Finally, Fielder Capital Group LLC purchased a new position in Alpha Teknova in the second quarter valued at about $143,000. 13.81% of the stock is currently owned by hedge funds and other institutional investors.

About Alpha Teknova

Alpha Teknova, Inc is a life sciences company that develops and manufactures critical reagents and other products used in biomedical research, biopharmaceutical development and advanced therapies. The company provides laboratory and production materials designed to support applications including cell and gene therapy, molecular diagnostics, next-generation sequencing, vaccine development and pharmaceutical manufacturing.

Its offerings include research-use-only and current Good Manufacturing Practice (cGMP) reagents, buffers, media and other custom-formulated solutions.

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