Tetra Technologies (NYSE:TTI) Stock Falls 6.6% – Should You Sell?

Shares of Tetra Technologies, Inc. (NYSE:TTI) dropped 6.6% during mid-day trading on Tuesday. The stock traded as low as $5.78 and last traded at $5.7050. 1,094,974 shares were traded during trading, a decline of 41% from the average session volume of 1,842,747 shares. The stock had previously closed at $6.11.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Tetra Technologies from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Northland Securities set a $10.00 price target on shares of Tetra Technologies in a research note on Tuesday, September 1st. Clear Str raised Tetra Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $11.17.

Tetra Technologies Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76. The company has a fifty day moving average of $6.93 and a 200 day moving average of $8.58. The firm has a market capitalization of $838.83 million, a P/E ratio of 141.41 and a beta of 1.26.

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

Insider Buying and Selling

In related news, Director Angela John purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were purchased at an average cost of $6.50 per share, for a total transaction of $65,000.00. Following the completion of the transaction, the director directly owned 97,434 shares in the company, valued at approximately $633,321. This represents a 11.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 6.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tetra Technologies

Several institutional investors have recently added to or reduced their stakes in TTI. Baird Financial Group Inc. purchased a new position in Tetra Technologies during the second quarter valued at $280,000. Corient Private Wealth LP bought a new stake in Tetra Technologies in the second quarter worth $114,000. Amundi lifted its position in Tetra Technologies by 249.5% during the second quarter. Amundi now owns 58,017 shares of the oil and gas company’s stock valued at $657,000 after purchasing an additional 41,419 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Tetra Technologies by 15.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 17,357 shares of the oil and gas company’s stock worth $197,000 after purchasing an additional 2,318 shares during the period. Finally, Penn Capital Management Company LLC increased its stake in Tetra Technologies by 62.4% in the second quarter. Penn Capital Management Company LLC now owns 180,867 shares of the oil and gas company’s stock worth $2,049,000 after purchasing an additional 69,500 shares during the period. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Tetra Technologies Company Profile

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.