Alpha Teknova (NASDAQ:TKNO) Issues Earnings Results, Beats Expectations By $0.03 EPS

Alpha Teknova (NASDAQ:TKNOGet Rating) issued its earnings results on Wednesday. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03, Fidelity Earnings reports. Alpha Teknova updated its FY 2022 guidance to EPS.

TKNO traded up $0.44 during midday trading on Thursday, reaching $12.60. 1,833 shares of the company were exchanged, compared to its average volume of 41,364. The company has a debt-to-equity ratio of 0.08, a quick ratio of 12.37 and a current ratio of 13.07. The company’s fifty day moving average price is $14.01 and its 200 day moving average price is $17.19. Alpha Teknova has a one year low of $8.51 and a one year high of $30.89.

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Alpha Teknova by 48.1% during the 4th quarter. Geode Capital Management LLC now owns 119,213 shares of the company’s stock worth $2,441,000 after purchasing an additional 38,730 shares in the last quarter. State Street Corp increased its holdings in Alpha Teknova by 31.1% during the 4th quarter. State Street Corp now owns 106,584 shares of the company’s stock worth $2,183,000 after purchasing an additional 25,256 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Alpha Teknova during the 3rd quarter worth approximately $1,094,000. Citadel Advisors LLC bought a new stake in Alpha Teknova during the 4th quarter worth approximately $593,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alpha Teknova by 7.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,357 shares of the company’s stock worth $376,000 after purchasing an additional 1,224 shares in the last quarter. 25.51% of the stock is owned by hedge funds and other institutional investors.

TKNO has been the subject of a number of research analyst reports. Zacks Investment Research lowered Alpha Teknova from a “hold” rating to a “sell” rating in a research report on Friday, April 29th. Stephens decreased their target price on Alpha Teknova from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, March 16th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Alpha Teknova presently has a consensus rating of “Buy” and an average target price of $27.33.

About Alpha Teknova (Get Rating)

Alpha Teknova, Inc provides critical reagents for life sciences market in the United States and internationally. Its reagents enable the discovery, development, and production of biopharmaceutical products, such as drug therapies, novel vaccines, and molecular diagnostics. The company offers pre-poured media plates for cell growth and cloning; liquid cell culture media and supplements for cellular expansion; and molecular biology reagents for sample manipulation, resuspension, and purification.

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