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

Alpha Teknova, Inc. (NASDAQ:TKNO) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 82,600 shares, a drop of 41.8% from the June 30th total of 142,000 shares. Based on an average trading volume of 458,400 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Stephens reissued an “overweight” rating and set a $5.00 target price on shares of Alpha Teknova in a report on Wednesday, July 10th.

Alpha Teknova Stock Performance

TKNO opened at $4.08 on Friday. The company has a quick ratio of 3.92, a current ratio of 5.52 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $1.73 and its 200-day moving average is $2.35. Alpha Teknova has a twelve month low of $1.15 and a twelve month high of $4.27.

Alpha Teknova (NASDAQ:TKNO) last announced its earnings results on Monday, May 13th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. The firm had revenue of $9.29 million for the quarter, compared to the consensus estimate of $7.80 million. Alpha Teknova had a negative return on equity of 38.24% and a negative net margin of 97.85%. During the same quarter in the previous year, the business earned ($0.31) EPS. Equities research analysts expect that Alpha Teknova will post -0.65 earnings per share for the current year.

Insider Buying and Selling

In other Alpha Teknova news, major shareholder Telegraph Hill Partners Iv, L. acquired 12,096,773 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was bought at an average price of $1.24 per share, with a total value of $14,999,998.52. Following the completion of the transaction, the insider now directly owns 11,126,929 shares of the company’s stock, valued at $13,797,391.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Matthew Lowell bought 40,322 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were acquired at an average price of $1.24 per share, for a total transaction of $49,999.28. Following the purchase, the chief financial officer now owns 128,376 shares in the company, valued at approximately $159,186.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Telegraph Hill Partners Iv, L. bought 12,096,773 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was purchased at an average price of $1.24 per share, with a total value of $14,999,998.52. Following the transaction, the insider now owns 11,126,929 shares in the company, valued at approximately $13,797,391.96. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 12,217,740 shares of company stock valued at $15,149,998. Insiders own 15.20% of the company’s stock.

Institutional Trading of Alpha Teknova

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

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.