TETRA Technologies (NYSE:TTI) Sees Strong Trading Volume – Here’s What Happened

TETRA Technologies, Inc. (NYSE:TTI) shares saw an uptick in trading volume on Tuesday . 1,657,002 shares changed hands during trading, an increase of 90% from the previous session’s volume of 872,191 shares.The stock last traded at $4.40 and had previously closed at $4.12.

Analyst Upgrades and Downgrades

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

TETRA Technologies Stock Performance

The stock has a 50 day moving average of $3.75 and a 200 day moving average of $3.42. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $589.19 million, a price-to-earnings ratio of 223.61 and a beta of 2.06.

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

Hedge Funds Weigh In On TETRA Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in 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. Walleye Capital LLC bought a new stake in TETRA Technologies in the third quarter worth approximately $418,000. Stanley Laman Group Ltd. increased its holdings in TETRA Technologies by 57.9% in the third quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock worth $4,346,000 after purchasing an additional 514,054 shares in the last quarter. Barclays PLC increased its holdings in TETRA Technologies by 369.6% in the third quarter. Barclays PLC now owns 209,873 shares of the oil and gas company’s stock worth $650,000 after purchasing an additional 165,184 shares in the last quarter. Finally, HITE Hedge Asset Management LLC bought a new stake in TETRA Technologies in the second quarter worth approximately $4,368,000. 70.19% of the stock is owned by institutional investors and hedge funds.

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.