Jefferies Financial Group upgraded shares of Alpha Teknova (NASDAQ:TKNO – Free Report) to a strong-buy rating in a report published on Thursday,Zacks reports.
Other research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Alpha Teknova from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research upgraded Alpha Teknova to a “hold” rating in a research note on Thursday, August 6th. BTIG Research raised Alpha Teknova from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Tuesday, August 11th. Roth Capital initiated coverage on Alpha Teknova in a research report on Wednesday, August 5th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Weiss Ratings lowered Alpha Teknova from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.
View Our Latest Analysis on TKNO
Alpha Teknova Stock Up 4.8%
Alpha Teknova (NASDAQ:TKNO – Get Free Report) last announced its earnings results 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 business 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.
Hedge Funds Weigh In On Alpha Teknova
Institutional investors have recently added to or reduced their stakes in the stock. Roubaix Capital LLC increased its holdings in shares of Alpha Teknova by 88.5% during the 1st quarter. Roubaix Capital LLC now owns 1,882,355 shares of the company’s stock worth $5,440,000 after buying an additional 883,823 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Alpha Teknova during the 2nd quarter valued at approximately $4,997,000. Royce & Associates LP acquired a new position in Alpha Teknova in the fourth quarter valued at approximately $1,116,000. Bank of America Corp DE acquired a new position in Alpha Teknova in the second quarter valued at approximately $1,453,000. Finally, Bank of New York Mellon Corp purchased a new position in Alpha Teknova in the second quarter worth approximately $604,000. Hedge funds and other institutional investors own 13.81% of the company’s stock.
About Alpha Teknova
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.
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