TETRA Technologies, Inc. (NYSE:TTI) Short Interest Update

TETRA Technologies, Inc. (NYSE:TTI) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,220,000 shares, a decrease of 24.2% from the February 13th total of 4,250,000 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 1,040,000 shares, the days-to-cover ratio is currently 3.1 days.

TETRA Technologies Stock Up 2.9 %

Shares of NYSE:TTI opened at $3.35 on Monday. TETRA Technologies has a 52-week low of $2.68 and a 52-week high of $5.12. The stock has a market cap of $442.86 million, a P/E ratio of 167.33 and a beta of 2.04. The business’s 50 day moving average is $4.13 and its 200 day moving average is $3.67. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The company had revenue of $134.50 million for the quarter, compared to analysts’ expectations of $138.96 million. Sell-side analysts predict that TETRA Technologies will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TTI. Jacobs Levy Equity Management Inc. bought a new position in TETRA Technologies in the third quarter worth approximately $2,546,000. Icon Advisers Inc. Co. purchased a new stake in TETRA Technologies during the fourth quarter worth $2,377,000. Stifel Financial Corp lifted its holdings in TETRA Technologies by 224.8% during the fourth quarter. Stifel Financial Corp now owns 702,895 shares of the oil and gas company’s stock worth $2,516,000 after buying an additional 486,456 shares during the period. American Century Companies Inc. lifted its holdings in TETRA Technologies by 36.3% during the fourth quarter. American Century Companies Inc. now owns 1,734,653 shares of the oil and gas company’s stock worth $6,210,000 after buying an additional 462,213 shares during the period. Finally, HITE Hedge Asset Management LLC lifted its holdings in TETRA Technologies by 32.7% during the fourth quarter. HITE Hedge Asset Management LLC now owns 1,681,509 shares of the oil and gas company’s stock worth $6,020,000 after buying an additional 414,640 shares during the period. Institutional investors own 70.19% of the company’s stock.

Analysts Set New Price Targets

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a research note on Thursday, February 27th.

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.