TETRA Technologies (NYSE:TTI) Shares Down 4.6% – What’s Next?

TETRA Technologies, Inc. (NYSE:TTI)’s share price dropped 4.6% on Wednesday . The company traded as low as $4.72 and last traded at $4.68. Approximately 217,249 shares were traded during trading, a decline of 85% from the average daily volume of 1,462,155 shares. The stock had previously closed at $4.90.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TTI. EF Hutton Acquisition Co. I upgraded TETRA Technologies to a “strong-buy” rating in a report on Monday, October 21st. StockNews.com upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $5.50 price target on shares of TETRA Technologies in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $6.50.

TETRA Technologies Trading Down 4.4 %

The company has a market cap of $617.53 million, a PE ratio of 234.87 and a beta of 2.06. The stock has a 50 day moving average price of $3.88 and a 200 day moving average price of $3.48. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16.

TETRA Technologies (NYSE:TTI) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $156.43 million. During the same period in the prior year, the firm earned $0.07 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. Sell-side analysts predict that TETRA Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On TETRA Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. HITE Hedge Asset Management LLC bought a new stake in TETRA Technologies in the 2nd quarter worth approximately $4,368,000. Jacobs Levy Equity Management Inc. bought a new stake in TETRA Technologies during the third quarter valued at about $2,546,000. Masters Capital Management LLC increased its holdings in TETRA Technologies by 70.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,700,000 shares of the oil and gas company’s stock worth $5,882,000 after acquiring an additional 700,000 shares in the last quarter. American Century Companies Inc. increased its stake in shares of TETRA Technologies by 153.8% in the second quarter. American Century Companies Inc. now owns 883,431 shares of the oil and gas company’s stock worth $3,057,000 after purchasing an additional 535,413 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its stake in TETRA Technologies by 57.9% in the 3rd quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock worth $4,346,000 after buying an additional 514,054 shares in the last quarter. Institutional investors own 70.19% of the company’s stock.

TETRA Technologies Company Profile

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.