Alpha Teknova, Inc. (NASDAQ:TKNO) Sees Large Increase in Short Interest

Alpha Teknova, Inc. (NASDAQ:TKNO) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,660,000 shares, a growth 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 currently 5.2 days. Approximately 15.7% of the shares of the company are sold short.

Alpha Teknova Trading Up 7.3 %

Shares of Alpha Teknova stock opened at $5.58 on Friday. Alpha Teknova has a 1-year low of $1.16 and a 1-year high of $10.37. The company’s fifty day simple moving average is $7.79 and its 200-day simple moving average is $6.90. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.73 and a quick ratio of 3.94. The stock has a market capitalization of $297.46 million, a PE ratio of -7.54 and a beta of 0.41.

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

Analyst Ratings Changes

Separately, Craig Hallum initiated coverage on shares of Alpha Teknova in a research report on Monday, February 10th. They set a “buy” rating and a $12.00 price target for the company.

Institutional Investors Weigh In On Alpha Teknova

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. purchased a new stake in shares of Alpha Teknova in the fourth quarter worth $9,236,000. Point72 Asset Management L.P. purchased a new stake in Alpha Teknova in the 3rd quarter worth $1,483,000. Bank of America Corp DE raised its holdings in Alpha Teknova by 1.8% during the fourth quarter. Bank of America Corp DE now owns 221,285 shares of the company’s stock valued at $1,848,000 after acquiring an additional 3,904 shares during the period. Susquehanna International Group LLP lifted its position 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 valued at $1,749,000 after acquiring an additional 172,828 shares in the last quarter. Finally, Geode Capital Management LLC boosted 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 acquiring an additional 36,914 shares during the period. Institutional investors own 13.81% of the company’s stock.

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.