Alpha Teknova (NASDAQ:TKNO) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Alpha Teknova, Inc. (NASDAQ:TKNO)’s share price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-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 changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TKNO. 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 price target on the stock in a report on Tuesday, August 11th. Zacks Research upgraded shares of Alpha Teknova to a “hold” rating in a research note on Thursday, August 6th. Jefferies Financial Group started coverage on shares of Alpha Teknova in a research note on Thursday, September 17th. They set a “buy” rating and a $9.00 price objective on the stock. Finally, Roth Capital started coverage on shares of Alpha Teknova in a report on Wednesday, August 5th. They set a “buy” rating and a $7.00 price objective for the company. Four equities research 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, Alpha Teknova presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Alpha Teknova Stock Up 10.5%

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 firm has a market capitalization of $422.11 million, a P/E ratio of -25.35 and a beta of 0.85. The stock has a fifty day moving average price of $7.69 and a two-hundred day moving average price of $4.85.

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

Hedge Funds Weigh In On Alpha Teknova

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