Alpha Teknova, Inc. (NASDAQ:TKNO) Short Interest Down 18.0% in September

Alpha Teknova, Inc. (NASDAQ:TKNO) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 283,700 shares, a drop of 18.0% from the September 15th total of 346,100 shares. Based on an average trading volume of 621,800 shares, the days-to-cover ratio is presently 0.5 days. Approximately 2.7% of the shares of the company are short sold.

Institutional Trading of Alpha Teknova

Hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System bought a new position in Alpha Teknova in the 1st quarter valued at about $35,000. Redmile Group LLC grew its position in shares of Alpha Teknova by 6.5% in the first quarter. Redmile Group LLC now owns 171,453 shares of the company’s stock valued at $434,000 after purchasing an additional 10,448 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Alpha Teknova by 81.6% during the second quarter. Conestoga Capital Advisors LLC now owns 453,899 shares of the company’s stock worth $622,000 after purchasing an additional 203,950 shares during the period. Finally, FourWorld Capital Management LLC acquired a new stake in Alpha Teknova during the 1st quarter worth approximately $135,000. Institutional investors and hedge funds own 13.81% of the company’s stock.

Alpha Teknova Stock Performance

NASDAQ:TKNO opened at $5.45 on Friday. Alpha Teknova has a 12-month low of $1.15 and a 12-month high of $5.47. The stock’s 50 day moving average price is $4.63 and its two-hundred day moving average price is $2.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.28 and a current ratio of 4.76.

Alpha Teknova (NASDAQ:TKNO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Alpha Teknova had a negative return on equity of 37.00% and a negative net margin of 98.08%. The business had revenue of $9.61 million for the quarter, compared to analysts’ expectations of $9.50 million. During the same quarter in the prior year, the business earned ($0.25) EPS. On average, equities research analysts predict that Alpha Teknova will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Stephens restated an “overweight” rating and set a $5.00 price objective on shares of Alpha Teknova in a research note on Wednesday, July 10th.

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.