Alpha Teknova (NASDAQ:TKNO) Shares Down 2.2% – Should You Sell?

Shares of Alpha Teknova, Inc. (NASDAQ:TKNO) traded down 2.2% on Wednesday . The company traded as low as $5.23 and last traded at $5.29. Approximately 120,656 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 214,871 shares. The stock had previously closed at $5.41.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Teknova in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alpha Teknova has an average rating of “Hold” and a consensus price target of $8.00.

Alpha Teknova Stock Down 2.2%

The stock has a fifty day moving average of $4.76 and a two-hundred day moving average of $3.58. The company has a quick ratio of 3.60, a current ratio of 4.59 and a debt-to-equity ratio of 0.20. The stock has a market cap of $283.60 million, a price-to-earnings ratio of -16.53 and a beta of 0.62.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Alpha Teknova by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 90,595 shares of the company’s stock valued at $470,000 after purchasing an additional 36,763 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Alpha Teknova by 64.4% during the second quarter. Geode Capital Management LLC now owns 298,850 shares of the company’s stock worth $1,468,000 after buying an additional 117,016 shares during the period. JPMorgan Chase & Co. boosted its position 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 acquiring an additional 4,504 shares during the period. New York State Common Retirement Fund acquired a new stake in Alpha Teknova in the second quarter worth about $96,000. Finally, Marshall Wace LLP boosted its holdings in shares of Alpha Teknova by 83.0% in the second quarter. Marshall Wace LLP now owns 90,032 shares of the company’s stock valued at $442,000 after acquiring an additional 40,825 shares in the last quarter. 13.81% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Teknova Company Profile

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.