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

Shares of Tetra Technologies, Inc. (NYSE:TTI) gapped down prior to trading on Wednesday . The stock had previously closed at $10.89, but opened at $9.75. Tetra Technologies shares last traded at $10.25, with a volume of 2,092,224 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Stock Performance

The firm has a market capitalization of $1.32 billion, a P/E ratio of 199.14 and a beta of 1.22. The stock has a fifty day simple moving average of $9.50 and a two-hundred day simple moving average of $9.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $156.25 million during the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. On average, research analysts predict that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. KBC Group NV purchased a new position in Tetra Technologies in the first quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new position in Tetra Technologies in the fourth quarter worth $33,000. Stone House Investment Management LLC purchased a new position in Tetra Technologies in the fourth quarter worth $39,000. Osaic Holdings Inc. boosted its position in Tetra Technologies by 647.1% in the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in Tetra Technologies in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Tetra Technologies Company Profile

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.