Alpha Teknova (NASDAQ:TKNO) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Alpha Teknova, Inc. (NASDAQ:TKNO) shares crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $7.72 and traded as high as $8.03. Alpha Teknova shares last traded at $7.88, with a volume of 1,065,890 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Alpha Teknova from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Wall Street Zen raised shares of Alpha Teknova from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. BTIG Research raised shares of Alpha Teknova from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, August 11th. Roth Capital began coverage on shares of Alpha Teknova in a research note on Wednesday, August 5th. They set a “buy” rating and a $7.00 target price for the company. Finally, Weiss Ratings cut Alpha Teknova from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Four 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Alpha Teknova Stock Performance

The company’s 50 day moving average price is $7.73 and its two-hundred day moving average price is $4.98. 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) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Alpha Teknova had a negative return on equity of 24.41% and a negative net margin of 34.76%. The firm had revenue of $12.70 million during the quarter, compared to analyst estimates of $11.71 million. As a group, equities analysts expect that Alpha Teknova, Inc. will post -0.26 EPS for the current fiscal year.

Institutional Trading of Alpha Teknova

A number of hedge funds and other institutional investors have recently bought and sold shares of TKNO. Susquehanna International Group LLP purchased a new position in shares of Alpha Teknova during the 2nd quarter valued at about $115,000. Bank of America Corp DE purchased a new stake in Alpha Teknova in the 2nd quarter worth approximately $1,453,000. Ieq Capital LLC bought a new stake in Alpha Teknova during the 2nd quarter worth approximately $62,000. BlackRock Inc. bought a new stake in Alpha Teknova during the 2nd quarter worth approximately $4,997,000. Finally, Deutsche Bank AG bought a new stake in Alpha Teknova during the 2nd quarter worth approximately $62,000. Hedge funds and other institutional investors own 13.81% of the company’s stock.

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.