Tetra Technologies, Inc. (NYSE:TTI) rose 5.3% during mid-day trading on Tuesday . The stock traded as high as $2.19 and last traded at $2.17. Approximately 1,338,353 shares changed hands during trading, an increase of 22% from the average daily volume of 1,100,570 shares. The stock had previously closed at $2.06.
TTI has been the topic of several analyst reports. Morgan Stanley decreased their price objective on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Zacks Investment Research cut Tetra Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Royal Bank Of Canada restated a “hold” rating and set a $3.25 price objective on shares of Tetra Technologies in a report on Thursday, July 20th. ValuEngine cut Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, BidaskClub cut Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $5.33.
The stock’s market cap is $251.50 million. The firm’s 50-day moving average price is $2.24 and its 200 day moving average price is $3.13.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The company had revenue of $208.37 million for the quarter, compared to analysts’ expectations of $204.19 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The company’s revenue was up 18.6% on a year-over-year basis. On average, equities analysts forecast that Tetra Technologies, Inc. will post ($0.18) EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Tetra Technologies by 2.1% during the 2nd quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock valued at $34,199,000 after acquiring an additional 250,100 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tetra Technologies by 6.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,594,952 shares of the oil and gas company’s stock valued at $29,559,000 after acquiring an additional 625,816 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tetra Technologies by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock valued at $13,709,000 after acquiring an additional 774,482 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Tetra Technologies by 23.3% during the 1st quarter. Wells Fargo & Company MN now owns 3,987,876 shares of the oil and gas company’s stock valued at $16,230,000 after acquiring an additional 753,964 shares in the last quarter. Finally, Formula Growth Ltd. grew its holdings in shares of Tetra Technologies by 51.9% during the 2nd quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock valued at $10,495,000 after acquiring an additional 1,284,629 shares in the last quarter. Institutional investors and hedge funds own 91.02% of the company’s stock.
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Tetra Technologies Company Profile
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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