Zacks Research Upgrades Alpha Teknova (NASDAQ:TKNO) to “Hold”

Alpha Teknova (NASDAQ:TKNO) was upgraded by research analysts at Zacks Research to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen raised Alpha Teknova from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Teknova in a research report on Friday, July 17th. Finally, Roth Capital began coverage on Alpha Teknova in a research note on Wednesday. They set a “buy” rating and a $7.00 target price for the company. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

Alpha Teknova Stock Performance

NASDAQ TKNO opened at $6.46 on Thursday. The firm’s 50 day simple moving average is $5.23 and its 200 day simple moving average is $3.75. The firm has a market capitalization of $346.32 million, a price-to-earnings ratio of -20.84 and a beta of 0.64. The company has a current ratio of 4.59, a quick ratio of 3.60 and a debt-to-equity ratio of 0.20. Alpha Teknova has a 1 year low of $1.91 and a 1 year high of $6.68.

Alpha Teknova (NASDAQ:TKNO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, beating 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 24.38%. The business had revenue of $12.19 million during the quarter, compared to the consensus estimate of $10.95 million. As a group, research analysts expect that Alpha Teknova will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Alpha Teknova during the 2nd quarter worth approximately $29,000. ProShare Advisors LLC bought a new stake in shares of Alpha Teknova in the 4th quarter valued at $38,000. JPMorgan Chase & Co. boosted 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. R Squared Ltd acquired a new stake in shares of Alpha Teknova during the first quarter worth $42,000. Finally, Larson Financial Group LLC increased its position in shares of Alpha Teknova by 58.5% during the third 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 during the period. 13.81% of the stock is owned by institutional investors and hedge funds.

About Alpha Teknova

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.