Alpha Teknova, Inc. (NASDAQ:TKNO – Get Free Report)’s stock price hit a new 52-week high during trading on Friday. The stock traded as high as $9.41 and last traded at $9.3690, with a volume of 356114 shares trading hands. The stock had previously closed at $9.29.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on TKNO shares. BTIG Research raised Alpha Teknova from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Tuesday, August 11th. Zacks Research raised Alpha Teknova to a “hold” rating in a research report on Thursday, August 6th. Roth Capital initiated coverage on Alpha Teknova in a report on Wednesday, August 5th. They issued a “buy” rating and a $7.00 price objective for the company. Wall Street Zen upgraded Alpha Teknova from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings cut Alpha Teknova from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.00.
Check Out Our Latest Stock Report on Alpha Teknova
Alpha Teknova Trading Up 1.6%
Alpha Teknova (NASDAQ:TKNO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Alpha Teknova had a negative net margin of 38.37% and a negative return on equity of 24.94%. The business had revenue of $12.19 million during the quarter, compared to analyst estimates of $10.95 million. As a group, equities research analysts anticipate that Alpha Teknova, Inc. will post -0.28 earnings per share for the current year.
Institutional Investors Weigh In On Alpha Teknova
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TKNO. BlackRock Inc. purchased a new position in Alpha Teknova during the second quarter valued at $4,997,000. Bank of New York Mellon Corp bought a new stake in shares of Alpha Teknova during the 2nd quarter valued at $604,000. Roubaix Capital LLC grew its position in shares of Alpha Teknova by 88.5% in 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 period. Royce & Associates LP purchased a new stake in shares of Alpha Teknova in the 4th quarter worth about $1,116,000. Finally, Bank of America Corp DE purchased a new stake in shares of Alpha Teknova in the 2nd quarter worth about $1,453,000. 13.81% of the stock is owned by hedge funds and other institutional investors.
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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