Short Interest in Alpha Teknova, Inc. (NASDAQ:TKNO) Increases By 72.2%

Alpha Teknova, Inc. (NASDAQ:TKNO) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 1,660,000 shares, an increase of 72.2% from the February 13th total of 964,000 shares. Based on an average daily volume of 319,200 shares, the short-interest ratio is presently 5.2 days. Approximately 15.7% of the company’s shares are sold short.

Alpha Teknova Stock Performance

Shares of TKNO stock traded up $0.38 during trading on Friday, hitting $5.58. The company’s stock had a trading volume of 146,708 shares, compared to its average volume of 304,013. The business has a fifty day moving average of $7.79 and a 200-day moving average of $6.91. Alpha Teknova has a 52 week low of $1.16 and a 52 week high of $10.37. The company has a market cap of $298.18 million, a PE ratio of -7.54 and a beta of 0.41. The company has a current ratio of 4.73, a quick ratio of 3.94 and a debt-to-equity ratio of 0.12.

Alpha Teknova (NASDAQ:TKNO) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.11) earnings per share (EPS) for the quarter. Alpha Teknova had a negative return on equity of 35.30% and a negative net margin of 87.17%. The business had revenue of $9.27 million during the quarter, compared to analysts’ expectations of $9.10 million. As a group, research analysts anticipate that Alpha Teknova will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Invesco Ltd. purchased a new position in shares of Alpha Teknova in the fourth quarter worth about $9,236,000. Point72 Asset Management L.P. bought a new stake in shares of Alpha Teknova in the third quarter worth about $1,483,000. Bank of America Corp DE grew its stake in shares of Alpha Teknova by 1.8% in the fourth quarter. Bank of America Corp DE now owns 221,285 shares of the company’s stock worth $1,848,000 after purchasing an additional 3,904 shares during the last quarter. Susquehanna International Group LLP grew its stake in shares of Alpha Teknova by 472.5% in the fourth quarter. Susquehanna International Group LLP now owns 209,409 shares of the company’s stock worth $1,749,000 after purchasing an additional 172,828 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Alpha Teknova by 24.4% in the third quarter. Geode Capital Management LLC now owns 188,173 shares of the company’s stock worth $911,000 after purchasing an additional 36,914 shares during the last quarter. Hedge funds and other institutional investors own 13.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum initiated coverage on Alpha Teknova in a research note on Monday, February 10th. They issued a “buy” rating and a $12.00 price objective for the company.

Alpha Teknova Company Profile

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.