Wall Street Zen Upgrades Alpha Teknova (NASDAQ:TKNO) to “Buy”

Alpha Teknova (NASDAQ:TKNO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other brokerages have also commented on TKNO. Roth Capital initiated coverage on shares of Alpha Teknova in a research report on Wednesday. They set a “buy” rating and a $7.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Teknova in a report on Friday, July 17th. One investment analyst has 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.com, Alpha Teknova has an average rating of “Hold” and an average price target of $7.00.

Alpha Teknova Price Performance

TKNO opened at $6.46 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.49 and a quick ratio of 3.48. The stock has a market capitalization of $346.32 million, a price-to-earnings ratio of -20.84 and a beta of 0.64. The business has a 50-day moving average of $5.23 and a two-hundred day moving average of $3.76. Alpha Teknova has a 12 month low of $1.91 and a 12 month high of $6.68.

Alpha Teknova (NASDAQ:TKNO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $12.19 million during the quarter, compared to the consensus estimate of $10.95 million. Alpha Teknova had a negative net margin of 38.37% and a negative return on equity of 24.94%. On average, research analysts expect that Alpha Teknova will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Alpha Teknova

Several hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP increased its position in Alpha Teknova by 25.0% during the 3rd quarter. Susquehanna International Group LLP now owns 16,206 shares of the company’s stock worth $100,000 after purchasing an additional 3,246 shares in the last quarter. Larson Financial Group LLC raised its holdings in Alpha Teknova by 58.5% in the third quarter. Larson Financial Group LLC now owns 9,387 shares of the company’s stock valued at $58,000 after buying an additional 3,464 shares during the period. JPMorgan Chase & Co. lifted its position in Alpha Teknova by 123.1% during the second quarter. JPMorgan Chase & Co. now owns 8,163 shares of the company’s stock valued at $40,000 after buying an additional 4,504 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Alpha Teknova by 7.9% during the third quarter. Bridgeway Capital Management LLC now owns 80,900 shares of the company’s stock valued at $501,000 after buying an additional 5,900 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Alpha Teknova during the second quarter worth approximately $29,000. 13.81% of the stock is owned by institutional investors and hedge funds.

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.