Alpha Teknova (NASDAQ:TKNO) Shares Cross Above 50-Day Moving Average – Here’s Why

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on TKNO shares. Zacks Research upgraded shares of Alpha Teknova to a “hold” rating in a research note on Thursday, August 6th. Roth Capital initiated 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 for the company. Jefferies Financial Group started coverage on shares of Alpha Teknova in a research report on Thursday, September 17th. They set a “buy” rating and a $9.00 price target for the company. Weiss Ratings cut shares of Alpha Teknova from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Alpha Teknova from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating, one has assigned 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 a consensus price target of $8.75.

Alpha Teknova Trading Up 6.9%

The firm has a fifty day simple moving average of $7.72 and a two-hundred day simple moving average of $4.96. The stock has a market cap of $423.18 million, a PE ratio of -27.17 and a beta of 0.96. The company has a current ratio of 4.49, a quick ratio of 3.48 and a debt-to-equity ratio of 0.21.

Alpha Teknova (NASDAQ:TKNO) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $11.71 million. As a group, equities analysts expect 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 bought and sold shares of TKNO. Roubaix Capital LLC lifted its position in Alpha Teknova by 88.5% during the first quarter. Roubaix Capital LLC now owns 1,882,355 shares of the company’s stock valued at $5,440,000 after purchasing an additional 883,823 shares during the last quarter. BlackRock Inc. purchased a new position in Alpha Teknova in the 2nd quarter worth approximately $4,997,000. Bank of America Corp DE purchased a new position in Alpha Teknova in the 2nd quarter worth approximately $1,453,000. Bank of New York Mellon Corp purchased a new position in Alpha Teknova in the 2nd quarter worth approximately $604,000. Finally, GSA Capital Partners LLP bought a new position in shares of Alpha Teknova in the 2nd quarter worth $303,000. 13.81% of the stock is owned by hedge funds and other institutional investors.

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.