Alpha Teknova (NASDAQ:TKNO) Downgraded by Zacks Investment Research

Alpha Teknova (NASDAQ:TKNOGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Alpha Teknova Inc. is a provider of critical reagents for the development and production of biopharmaceutical products including drug therapies, novel vaccines and molecular diagnostics. Alpha Teknova Inc. is based in HOLLISTER, Calif. “

Separately, Stephens reduced their price target on Alpha Teknova from $30.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, March 16th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $27.33.

Shares of TKNO stock opened at $16.24 on Tuesday. The business’s 50 day moving average is $15.12 and its two-hundred day moving average is $18.77. Alpha Teknova has a twelve month low of $12.35 and a twelve month high of $30.89. 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 (NASDAQ:TKNOGet Rating) last posted its quarterly earnings results on Tuesday, March 15th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. On average, research analysts predict that Alpha Teknova will post -0.93 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in Alpha Teknova by 25.5% during the third quarter. Millennium Management LLC now owns 256,344 shares of the company’s stock worth $6,380,000 after purchasing an additional 52,075 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Alpha Teknova by 45.2% during the third quarter. Goldman Sachs Group Inc. now owns 33,965 shares of the company’s stock worth $845,000 after purchasing an additional 10,567 shares during the last quarter. Roubaix Capital LLC acquired a new position in Alpha Teknova during the fourth quarter worth $5,241,000. Russell Investments Group Ltd. raised its holdings in Alpha Teknova by 12.3% during the fourth quarter. Russell Investments Group Ltd. now owns 203,802 shares of the company’s stock worth $4,172,000 after purchasing an additional 22,389 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Alpha Teknova during the fourth quarter worth $6,521,000. 27.65% of the stock is owned by hedge funds and other institutional investors.

About Alpha Teknova (Get Rating)

Alpha Teknova, Inc provides reagents for bioprocessing, bioproduction, and molecular diagnostics. The company's reagents enable the discovery, research, development, and production of biopharmaceutical products, such as drug therapies, novel vaccines, and molecular diagnostics. It offers liquid culture, dry culture, agar, and animal-free media, as well as pre-poured plates, biological buffers, solutions, chemicals, and various treated and certified waters.

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