Alpha Teknova (NASDAQ:TKNO) Shares Break Above 50 Day Moving Average – Here’s What Happened

Alpha Teknova, Inc. (NASDAQ:TKNO)’s share price passed 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 trading hands.

Analyst Ratings Changes

TKNO has been the subject of several research reports. Wall Street Zen raised Alpha Teknova from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Roth Capital assumed coverage on Alpha Teknova in a report on Wednesday, August 5th. They set a “buy” rating and a $7.00 target price on the stock. BTIG Research upgraded shares of Alpha Teknova from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday, August 11th. TD Cowen upped their price target on shares of Alpha Teknova from $7.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Finally, Zacks Research raised shares of Alpha Teknova to a “hold” rating in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alpha Teknova has an average rating of “Moderate Buy” and an average target price of $8.75.

Alpha Teknova Stock Down 9.0%

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 $395.23 million, a P/E ratio of -23.74 and a beta of 0.85. The stock’s fifty day moving average is $7.71 and its two-hundred day moving average is $4.89.

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

Institutional Investors Weigh In On Alpha Teknova

A number of institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new position in Alpha Teknova in the 1st quarter worth about $42,000. Ieq Capital LLC acquired a new stake in Alpha Teknova during the 2nd quarter worth about $62,000. Deutsche Bank AG acquired a new stake in Alpha Teknova during the 2nd quarter worth about $62,000. Susquehanna International Group LLP purchased a new stake in Alpha Teknova during the second quarter valued at about $115,000. Finally, Fielder Capital Group LLC purchased a new stake in Alpha Teknova during the second quarter valued at about $143,000. 13.81% of the stock is owned by institutional investors and hedge funds.

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.