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

Alpha Teknova (NASDAQ:TKNOGet Rating) posted its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share 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.

NASDAQ TKNO opened at $12.86 on Friday. Alpha Teknova has a 52 week low of $8.51 and a 52 week high of $30.89. The company has a quick ratio of 12.37, a current ratio of 13.07 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $13.84 and its two-hundred day simple moving average is $17.04.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Alpha Teknova from a “hold” rating to a “sell” rating in a research report on Friday, April 29th. Stephens reduced their price target on shares of 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 analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $27.33.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Alpha Teknova by 30.9% during the fourth quarter. BlackRock Inc. now owns 424,119 shares of the company’s stock valued at $8,686,000 after purchasing an additional 100,223 shares during the last quarter. Millennium Management LLC lifted its holdings in Alpha Teknova by 17.9% during the fourth quarter. Millennium Management LLC now owns 302,107 shares of the company’s stock valued at $6,187,000 after purchasing an additional 45,763 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alpha Teknova by 48.1% during the fourth quarter. Geode Capital Management LLC now owns 119,213 shares of the company’s stock valued at $2,441,000 after purchasing an additional 38,730 shares during the last quarter. State Street Corp lifted its holdings in Alpha Teknova by 31.1% during the fourth quarter. State Street Corp now owns 106,584 shares of the company’s stock valued at $2,183,000 after purchasing an additional 25,256 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Alpha Teknova in the third quarter worth about $1,094,000. 25.51% of the stock is currently owned by institutional investors and hedge funds.

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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