Tetra Technologies (NYSE:TTI) Reaches New 12-Month Low – What’s Next?

Tetra Technologies, Inc. (NYSE:TTI)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $4.96 and last traded at $4.9450, with a volume of 506,965 shares traded. The stock had previously closed at $5.35.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TTI shares. Northland Securities set a $10.00 price objective on shares of Tetra Technologies in a research report on Tuesday, September 1st. Weiss Ratings downgraded shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Clear Str upgraded shares of Tetra Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Stifel Nicolaus reduced their price target 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Tetra Technologies presently has a consensus rating of “Buy” and a consensus price target of $11.17.

Tetra Technologies Stock Performance

The company has a market capitalization of $789.95 million, a PE ratio of 133.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.76 and a current ratio of 2.46. The stock’s fifty day simple moving average is $6.34 and its 200-day simple moving average is $8.38.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $185.66 million for 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 earned $0.08 EPS. As a group, equities analysts predict that Tetra Technologies, Inc. will post 0.24 earnings per share for the current year.

Insider Transactions at Tetra Technologies

In other news, Director Angela John bought 10,000 shares of the stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average cost of $6.50 per share, with a total value of $65,000.00. Following the purchase, the director owned 97,434 shares of the company’s stock, valued at approximately $633,321. The trade was a 11.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.27% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Sterling Capital Management LLC grew its holdings in Tetra Technologies by 924.7% in the third quarter. Sterling Capital Management LLC now owns 4,693 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 4,235 shares during the period. Inspire Investing LLC increased its position in Tetra Technologies by 83.1% during the third quarter. Inspire Investing LLC now owns 108,853 shares of the oil and gas company’s stock worth $639,000 after purchasing an additional 49,388 shares during the last quarter. Kings Path Partners LLC purchased a new position in Tetra Technologies during the third quarter worth approximately $187,000. Penbrook Management LLC raised its stake in Tetra Technologies by 165.7% during the third quarter. Penbrook Management LLC now owns 69,760 shares of the oil and gas company’s stock worth $409,000 after purchasing an additional 43,500 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Tetra Technologies by 40.9% during the third quarter. State of Alaska Department of Revenue now owns 6,975 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 2,023 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 is an energy services and products company that supports oil and gas exploration and production activities. The company provides specialized fluids, water management solutions and related services used in drilling, well completion, production and industrial applications.

TETRA’s Completion Fluids & Products business supplies clear brine fluids, including calcium bromide and other bromide-based products, as well as associated completion-fluid services. These fluids are used to control pressure and protect well formations during completion and workover operations.