Alpha Teknova (NASDAQ:TKNO) Posts Quarterly Earnings Results, Meets Estimates

Alpha Teknova (NASDAQ:TKNO) posted its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09), FiscalAI reports. Alpha Teknova had a negative return on equity of 23.53% and a negative net margin of 45.78%.The business had revenue of $9.98 million for the quarter, compared to analyst estimates of $9.62 million.

Alpha Teknova Price Performance

Shares of TKNO traded up $0.02 during trading hours on Thursday, hitting $2.28. 172,211 shares of the company were exchanged, compared to its average volume of 283,930. The company has a quick ratio of 4.27, a current ratio of 5.27 and a debt-to-equity ratio of 0.18. Alpha Teknova has a fifty-two week low of $1.91 and a fifty-two week high of $7.48. The company has a market cap of $122.05 million, a price-to-earnings ratio of -6.51 and a beta of 0.41. The firm’s fifty day moving average is $3.18 and its 200 day moving average is $4.28.

Hedge Funds Weigh In On Alpha Teknova

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Alpha Teknova during the 2nd quarter worth approximately $29,000. JPMorgan Chase & Co. increased its stake in shares of Alpha Teknova by 123.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,163 shares of the company’s stock valued at $40,000 after purchasing an additional 4,504 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Alpha Teknova by 58.5% during the 3rd quarter. Larson Financial Group LLC now owns 9,387 shares of the company’s stock worth $58,000 after buying an additional 3,464 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Alpha Teknova during the 3rd quarter worth $94,000. Finally, Susquehanna International Group LLP boosted its stake in Alpha Teknova by 25.0% in the third quarter. Susquehanna International Group LLP now owns 16,206 shares of the company’s stock valued at $100,000 after buying an additional 3,246 shares in the last quarter. 13.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Teknova in a research note on Wednesday, January 21st. Zacks Research raised Alpha Teknova to a “hold” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.00.

Alpha Teknova Company Profile

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.