TETRA Technologies (NYSE:TTI) Stock Price Down 4.6% – Here’s What Happened

Shares of TETRA Technologies, Inc. (NYSE:TTI) were down 4.6% during trading on Wednesday . The stock traded as low as $4.72 and last traded at $4.68. Approximately 217,249 shares changed hands 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 equities analysts have issued reports on TTI shares. D. Boral Capital reiterated a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a report on Wednesday, January 8th. StockNews.com raised TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, EF Hutton Acquisition Co. I raised TETRA Technologies to a “strong-buy” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $6.50.

TETRA Technologies Price Performance

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’s fifty day moving average price is $3.92 and its 200 day moving average price is $3.50. The company has a market capitalization of $605.67 million, a P/E ratio of 229.86 and a beta of 2.06.

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

Institutional Trading of TETRA Technologies

Several institutional investors have recently added to or reduced their stakes in TTI. Jacobs Levy Equity Management Inc. acquired a new position in shares of TETRA Technologies in the 3rd quarter valued at about $2,546,000. American Century Companies Inc. boosted its holdings in shares of TETRA Technologies by 153.8% during the 2nd quarter. American Century Companies Inc. now owns 883,431 shares of the oil and gas company’s stock worth $3,057,000 after buying an additional 535,413 shares in the last quarter. Stanley Laman Group Ltd. increased its stake in shares of 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 valued at $4,346,000 after acquiring an additional 514,054 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of TETRA Technologies by 233.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 510,705 shares of the oil and gas company’s stock valued at $1,583,000 after acquiring an additional 357,455 shares in the last quarter. Finally, Pullen Investment Management LLC acquired a new position in shares of TETRA Technologies during the 3rd quarter valued at $766,000. 70.19% of the stock is currently owned by institutional investors.

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.