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

Alpha Teknova (NASDAQ:TKNOGet Rating) released its earnings results on Wednesday. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.03, Fidelity Earnings reports. Alpha Teknova had a negative net margin of 37.59% and a negative return on equity of 10.02%. Alpha Teknova updated its FY 2022 guidance to EPS.

Shares of TKNO stock opened at $12.86 on Friday. The stock’s fifty day simple moving average is $13.84 and its 200-day simple moving average is $17.04. The company has a current ratio of 13.07, a quick ratio of 12.37 and a debt-to-equity ratio of 0.08. Alpha Teknova has a 1-year low of $8.51 and a 1-year high of $30.89.

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Alpha Teknova by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,357 shares of the company’s stock valued at $376,000 after purchasing an additional 1,224 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alpha Teknova by 27.9% during the first quarter. JPMorgan Chase & Co. now owns 6,571 shares of the company’s stock worth $91,000 after purchasing an additional 1,435 shares during the period. Citigroup Inc. increased its stake in Alpha Teknova by 191.3% in the fourth quarter. Citigroup Inc. now owns 2,578 shares of the company’s stock valued at $53,000 after acquiring an additional 1,693 shares during the last quarter. Bank of America Corp DE increased its stake in Alpha Teknova by 605.9% in the fourth quarter. Bank of America Corp DE now owns 4,285 shares of the company’s stock valued at $87,000 after acquiring an additional 3,678 shares during the last quarter. Finally, California State Teachers Retirement System bought a new position in Alpha Teknova in the third quarter valued at approximately $94,000. Hedge funds and other institutional investors own 25.51% of the company’s stock.

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