TETRA Technologies, Inc. (NYSE:TTI) Sees Significant Decrease in Short Interest

TETRA Technologies, Inc. (NYSE:TTI) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 2,650,000 shares, a decline of 16.9% from the March 15th total of 3,190,000 shares. Based on an average daily volume of 1,440,000 shares, the short-interest ratio is currently 1.8 days. Currently, 2.3% of the shares of the stock are short sold.

TETRA Technologies Stock Down 3.7 %

Shares of NYSE:TTI opened at $4.63 on Monday. TETRA Technologies has a 52-week low of $2.56 and a 52-week high of $6.77. The firm has a fifty day moving average of $4.21 and a 200 day moving average of $4.63. The firm has a market capitalization of $607.16 million, a PE ratio of 23.15 and a beta of 2.20. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 2.24.

TETRA Technologies (NYSE:TTI) last announced its earnings results on Tuesday, February 27th. 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 net margin of 4.12% and a return on equity of 25.28%. The company had revenue of $153.13 million during the quarter, compared to analyst estimates of $144.76 million. As a group, research analysts anticipate that TETRA Technologies will post 0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in TETRA Technologies by 13.9% in the second quarter. BlackRock Inc. now owns 10,143,273 shares of the oil and gas company’s stock worth $34,284,000 after purchasing an additional 1,235,791 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in TETRA Technologies by 1.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,646,844 shares of the oil and gas company’s stock worth $31,429,000 after purchasing an additional 79,627 shares during the last quarter. Vanguard Group Inc. lifted its stake in TETRA Technologies by 15.0% in the fourth quarter. Vanguard Group Inc. now owns 7,520,276 shares of the oil and gas company’s stock worth $33,992,000 after purchasing an additional 981,077 shares during the last quarter. Gendell Jeffrey L lifted its stake in TETRA Technologies by 1.9% in the third quarter. Gendell Jeffrey L now owns 5,000,000 shares of the oil and gas company’s stock worth $31,900,000 after purchasing an additional 93,334 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in TETRA Technologies by 94.9% in the third quarter. Neuberger Berman Group LLC now owns 3,868,877 shares of the oil and gas company’s stock worth $13,889,000 after purchasing an additional 1,883,751 shares during the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Northland Securities started coverage on shares of TETRA Technologies in a research report on Tuesday, February 20th. They set an “outperform” rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

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.