TETRA Technologies (NYSE:TTI) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

TETRA Technologies, Inc. (NYSE:TTI) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.41 and traded as high as $3.87. TETRA Technologies shares last traded at $3.86, with a volume of 908,742 shares traded.

Analysts Set New Price Targets

TTI has been the subject of several analyst reports. EF Hutton Acquisition Co. I raised TETRA Technologies to a “strong-buy” rating in a report on Monday, October 21st. StockNews.com raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

TETRA Technologies Stock Performance

The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.33. The firm’s 50 day moving average price is $3.19 and its 200-day moving average price is $3.40. The firm has a market capitalization of $500.22 million, a PE ratio of 190.60 and a beta of 2.04.

TETRA Technologies (NYSE:TTI) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $141.70 million for the quarter, compared to the consensus estimate of $156.43 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. TETRA Technologies’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, research analysts expect that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On TETRA Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Townsquare Capital LLC acquired a new stake in shares of TETRA Technologies in the third quarter worth approximately $36,000. BNP Paribas Financial Markets lifted its stake in TETRA Technologies by 68.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 261,217 shares of the oil and gas company’s stock worth $810,000 after purchasing an additional 106,507 shares in the last quarter. FMR LLC boosted its holdings in shares of TETRA Technologies by 75.0% during the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 8,084 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of TETRA Technologies by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 994,177 shares of the oil and gas company’s stock valued at $3,082,000 after purchasing an additional 26,322 shares during the last quarter. Finally, Foundry Partners LLC increased its holdings in shares of TETRA Technologies by 1.0% in the third quarter. Foundry Partners LLC now owns 989,665 shares of the oil and gas company’s stock valued at $3,068,000 after purchasing an additional 9,400 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

About TETRA Technologies

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.