Tetra Technologies (NYSE:TTI) Shares Gap Up – What’s Next?

Tetra Technologies, Inc. (NYSE:TTI)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $6.03, but opened at $6.31. Tetra Technologies shares last traded at $6.1850, with a volume of 165,330 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Northland Securities set a $10.00 price objective on shares of Tetra Technologies in a research report on Tuesday, September 1st. Finally, Stifel Nicolaus decreased their target price on shares of Tetra Technologies from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.17.

Tetra Technologies Trading Up 2.5%

The firm has a market capitalization of $914.78 million, a price-to-earnings ratio of 154.49 and a beta of 1.26. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $7.07 and its 200 day moving average is $8.65.

Tetra Technologies (NYSE:TTI) last announced its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $185.66 million during the quarter, compared to analysts’ expectations of $176.16 million. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. During the same period last year, the company posted $0.08 earnings per share. Equities analysts forecast that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other Tetra Technologies news, Director Angela John purchased 10,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average price of $6.50 per share, for a total transaction of $65,000.00. Following the completion of the acquisition, the director owned 97,434 shares of the company’s stock, valued at $633,321. This represents a 11.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.27% of the company’s stock.

Institutional Investors Weigh In On Tetra Technologies

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Tetra Technologies during the 2nd quarter valued at about $138,491,000. SIR Capital Management L.P. purchased a new stake in shares of Tetra Technologies during the 2nd quarter valued at about $1,810,000. Ranger Investment Management L.P. purchased a new stake in Tetra Technologies during the second quarter valued at approximately $5,190,000. Edgestream Partners L.P. purchased a new position in Tetra Technologies during the first quarter valued at $2,874,000. Finally, Bank of New York Mellon Corp purchased a new position in Tetra Technologies during the second quarter valued at approximately $4,733,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is an energy services and solutions company that provides specialized products and services to the oil and gas industry, with additional activities related to energy transition. The company serves customers involved in drilling, well completion, production and offshore operations.

Tetra’s Completion Fluids & Products segment supplies clear brine fluids, completion-fluid additives and related products used to control pressure and protect reservoirs during well-completion and workover activities.