Tetra Technologies (NYSE:TTI) Shares Gap Down – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $8.67, but opened at $8.11. Tetra Technologies shares last traded at $8.52, with a volume of 142,971 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TTI. Northland Securities boosted their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

Tetra Technologies Stock Performance

The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 168.69 and a beta of 1.25. The company’s fifty day simple moving average is $9.55 and its 200 day simple moving average is $9.72. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62.

Tetra Technologies (NYSE:TTI) last posted its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $185.66 million during 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 10.05%. During the same quarter last year, the company posted $0.08 EPS. On average, equities research analysts expect that Tetra Technologies, Inc. will post 0.27 earnings per share for the current year.

Insider Activity at Tetra Technologies

In other news, VP Kurt Hallead acquired 22,000 shares of Tetra Technologies stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the acquisition, the vice president directly owned 170,764 shares in the company, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total value of $536,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,965,457 shares in the company, valued at $31,789,699.04. The trade was a 1.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.27% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Tetra Technologies by 5.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,819 shares of the oil and gas company’s stock worth $233,000 after buying an additional 1,272 shares in the last quarter. ProShare Advisors LLC increased its position in Tetra Technologies by 6.7% during the fourth quarter. ProShare Advisors LLC now owns 23,179 shares of the oil and gas company’s stock worth $217,000 after acquiring an additional 1,452 shares during the period. EverSource Wealth Advisors LLC increased its position in Tetra Technologies by 31.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 1,473 shares during the period. LPL Financial LLC raised its stake in Tetra Technologies by 9.7% in the 4th quarter. LPL Financial LLC now owns 19,626 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Tetra Technologies by 2.5% in the 3rd quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company’s stock worth $421,000 after purchasing an additional 1,754 shares in the last quarter. 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.