Tetra Technologies (NYSE:TTI) Trading 5.9% Higher – What’s Next?

Tetra Technologies, Inc. (NYSE:TTI)’s share price traded up 5.9% during trading on Thursday . The company traded as high as $8.22 and last traded at $8.13. Approximately 441,592 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,929,134 shares. The stock had previously closed at $7.68.

Analysts Set New Price Targets

TTI has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Stifel Nicolaus upped their target price on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Clear Str cut shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. CJS Securities assumed coverage on Tetra Technologies in a research note on Thursday, December 11th. They set an “outperform” rating and a $11.50 price target on the stock. Finally, Northland Securities upped their price target on Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Stock Up 5.4%

The firm has a market capitalization of $1.09 billion, a PE ratio of 404.50 and a beta of 1.20. The firm’s 50-day moving average is $10.39 and its 200 day moving average is $8.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 2.02.

Tetra Technologies (NYSE:TTI) last announced its earnings results on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%.The business had revenue of $146.68 million for the quarter, compared to analyst estimates of $140.98 million. As a group, research analysts forecast that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tetra Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in Tetra Technologies during the third quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Tetra Technologies in the fourth quarter valued at $33,000. Stone House Investment Management LLC acquired a new stake in shares of Tetra Technologies during the fourth quarter valued at $39,000. Osaic Holdings Inc. boosted its stake in shares of Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in Tetra Technologies during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.