Alpha Teknova (NASDAQ:TKNO) Stock Price Down 11.7%

Shares of Alpha Teknova, Inc. (NASDAQ:TKNO) traded down 11.7% on Monday . The company traded as low as $1.20 and last traded at $1.21. 96,900 shares changed hands during trading, an increase of 400% from the average session volume of 19,367 shares. The stock had previously closed at $1.37.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BTIG Research downgraded Alpha Teknova from a “buy” rating to a “neutral” rating in a report on Tuesday, March 12th. Stephens reiterated an “overweight” rating and set a $15.00 target price on shares of Alpha Teknova in a report on Tuesday, May 14th.

Alpha Teknova Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.92 and a current ratio of 5.52. The business has a 50-day moving average price of $1.72 and a 200 day moving average price of $2.58. The stock has a market capitalization of $49.39 million, a P/E ratio of -1.15 and a beta of 0.34.

Alpha Teknova (NASDAQ:TKNO) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Alpha Teknova had a negative return on equity of 38.24% and a negative net margin of 97.85%. The firm had revenue of $9.29 million for the quarter, compared to analysts’ expectations of $7.80 million. During the same period in the previous year, the firm posted ($0.31) EPS. As a group, sell-side analysts forecast that Alpha Teknova, Inc. will post -0.65 EPS for the current fiscal year.

Institutional Trading of Alpha Teknova

A number of hedge funds have recently made changes to their positions in TKNO. State Board of Administration of Florida Retirement System bought a new stake in shares of Alpha Teknova in the 1st quarter worth approximately $35,000. FourWorld Capital Management LLC bought a new position in Alpha Teknova in the 1st quarter valued at approximately $135,000. Fielder Capital Group LLC bought a new position in Alpha Teknova in the 4th quarter valued at approximately $156,000. Redmile Group LLC lifted its position in Alpha Teknova by 6.5% in the 1st quarter. Redmile Group LLC now owns 171,453 shares of the company’s stock valued at $434,000 after acquiring an additional 10,448 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in Alpha Teknova by 4.1% in the 4th quarter. Conestoga Capital Advisors LLC now owns 247,529 shares of the company’s stock valued at $923,000 after acquiring an additional 9,800 shares in the last quarter. 13.81% of the stock is owned by institutional investors.

About Alpha Teknova

Alpha Teknova, Inc produces critical reagents for the research, discovery, development, and commercialization of novel therapies, vaccines, and molecular diagnostics in the United States and internationally. 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.