Alpha Teknova (NASDAQ:TKNO) Rating Increased to Strong-Buy at Jefferies Financial Group

Alpha Teknova (NASDAQ:TKNO) was upgraded by Jefferies Financial Group to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other equities research analysts also recently commented on the company. Weiss Ratings downgraded Alpha Teknova from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Roth Capital started coverage on shares of Alpha Teknova in a research report on Wednesday, August 5th. They set a “buy” rating and a $7.00 price target on the stock. Wall Street Zen upgraded shares of Alpha Teknova from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. BTIG Research raised shares of Alpha Teknova from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Alpha Teknova to a “hold” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.00.

Alpha Teknova Stock Performance

Shares of NASDAQ TKNO opened at $7.45 on Thursday. The stock has a 50 day moving average price of $6.38 and a 200 day moving average price of $4.70. Alpha Teknova has a 52 week low of $1.91 and a 52 week high of $7.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.48 and a current ratio of 4.49. The stock has a market capitalization of $399.39 million, a PE ratio of -24.03 and a beta of 0.72.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Roubaix Capital LLC raised its holdings in Alpha Teknova by 88.5% in the 1st quarter. Roubaix Capital LLC now owns 1,882,355 shares of the company’s stock valued at $5,440,000 after acquiring an additional 883,823 shares during the period. BlackRock Inc. acquired a new stake in Alpha Teknova during the second quarter worth approximately $4,997,000. Royce & Associates LP bought a new stake in shares of Alpha Teknova during the fourth quarter worth approximately $1,116,000. Bank of America Corp DE bought a new stake in shares of Alpha Teknova during the second quarter worth approximately $1,453,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Alpha Teknova during the second quarter worth approximately $604,000. 13.81% of the stock is currently owned by institutional investors.

Alpha Teknova Company Profile

Alpha Teknova, Inc (NASDAQ: TKNO) develops and manufactures critical reagents and solutions used in life sciences research, biopharmaceutical development, and laboratory testing. The company supplies ready-to-use and custom-formulated biological buffers, media, process liquids, and other high-purity reagents designed to support research and production workflows.

Its products and services are used across applications including cell and gene therapy, molecular diagnostics, next-generation sequencing, vaccine development, and other genomics and bioprocessing activities.