Tetra Technologies Inc. (TTI) Shares Down 2%
Tetra Technologies Inc. (NYSE:TTI)’s share price fell 2% during trading on Tuesday . The stock traded as low as $5.90 and last traded at $5.95, with a volume of 1,079,290 shares changing hands. The stock had previously closed at $6.07.
Several research firms have commented on TTI. Credit Suisse Group AG reissued an “outperform” rating and set a $8.00 target price on shares of Tetra Technologies in a research note on Monday, July 18th. Zacks Investment Research raised shares of Tetra Technologies from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a research note on Wednesday, July 13th. Wunderlich lifted their price objective on shares of Tetra Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, June 16th. Johnson Rice raised shares of Tetra Technologies from an “accumulate” rating to a “buy” rating in a research note on Tuesday, May 10th. Finally, Royal Bank Of Canada lowered their price objective on shares of Tetra Technologies from $6.25 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $8.66.
The stock’s market capitalization is $479.43 million. The company has a 50-day moving average of $6.15 and a 200 day moving average of $6.00.
Tetra Technologies (NYSE:TTI) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.07. The business earned $169.20 million during the quarter, compared to analyst estimates of $204.66 million. Tetra Technologies’s revenue was down 32.2% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. On average, equities analysts predict that Tetra Technologies Inc. will post ($0.47) EPS for the current year.
In other Tetra Technologies news, VP Joseph J. Meyer sold 11,246 shares of the stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $5.41, for a total transaction of $60,840.86. Following the transaction, the vice president now owns 17,011 shares in the company, valued at approximately $92,029.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Bass C. Wallace, Jr. sold 10,300 shares of the stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $5.86, for a total value of $60,358.00. Following the transaction, the vice president now owns 131,373 shares in the company, valued at approximately $769,845.78. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in Tetra Technologies during the fourth quarter valued at $1,386,000. Victory Capital Management Inc. boosted its position in Tetra Technologies by 15.9% in the fourth quarter. Victory Capital Management Inc. now owns 156,817 shares of the company’s stock valued at $1,179,000 after buying an additional 21,495 shares during the last quarter. State of Wisconsin Investment Board boosted its position in Tetra Technologies by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 149,348 shares of the company’s stock valued at $1,123,000 after buying an additional 4,466 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Tetra Technologies by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 147,610 shares of the company’s stock valued at $1,110,000 after buying an additional 2,662 shares during the last quarter.
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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