Alpha Teknova (NASDAQ:TKNO) Trading Down 1.5% – Here’s Why

Alpha Teknova, Inc. (NASDAQ:TKNO) shares dropped 1.5% during mid-day trading on Monday . The company traded as low as $4.93 and last traded at $5.16. Approximately 400,782 shares changed hands during trading, an increase of 91% from the average session volume of 210,242 shares. The stock had previously closed at $5.24.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Teknova in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.00.

Alpha Teknova Price Performance

The firm has a 50-day simple moving average of $3.96 and a 200-day simple moving average of $3.47. The firm has a market cap of $276.63 million, a P/E ratio of -16.12 and a beta of 0.62. The company has a current ratio of 4.59, a quick ratio of 3.60 and a debt-to-equity ratio of 0.20.

Alpha Teknova (NASDAQ:TKNO) last posted its earnings results on Wednesday, May 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $11.08 million for the quarter, compared to analyst estimates of $10.23 million. Alpha Teknova had a negative return on equity of 24.32% and a negative net margin of 41.07%.

Institutional Investors Weigh In On Alpha Teknova

Several institutional investors have recently bought and sold shares of TKNO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Alpha Teknova during the second quarter worth $29,000. ProShare Advisors LLC purchased a new position in Alpha Teknova during the 4th quarter worth $38,000. JPMorgan Chase & Co. grew its stake in Alpha Teknova by 123.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,163 shares of the company’s stock worth $40,000 after buying an additional 4,504 shares during the last quarter. R Squared Ltd acquired a new position in Alpha Teknova during the 1st quarter valued at about $42,000. Finally, Larson Financial Group LLC raised its stake in Alpha Teknova by 58.5% in the third quarter. Larson Financial Group LLC now owns 9,387 shares of the company’s stock valued at $58,000 after buying an additional 3,464 shares during the last quarter. 13.81% of the stock is currently owned by institutional investors and hedge funds.

About Alpha Teknova

Alpha Teknova, Inc (NASDAQ: TKNO) is a life science tools and reagents company that develops, manufactures and distributes proprietary products to support research, drug discovery and biomanufacturing. Its offerings target academic institutions, pharmaceutical and biotechnology firms, and diagnostic developers, with a focus on high-purity reagents and optimized workflows designed to accelerate molecular biology and protein science applications.

The company’s portfolio includes molecular biology reagents, cell culture buffers, in vitro translation kits, custom recombinant proteins, high-throughput screening buffers and other specialized formulations.