Tetra Technologies Inc. (TTI) Stock Price Up 4%
Tetra Technologies Inc. (NYSE:TTI)’s share price rose 4% during mid-day trading on Friday . The company traded as high as $6.06 and last traded at $6.05, with a volume of 571,036 shares traded. The stock had previously closed at $5.82.
TTI has been the topic of several recent analyst reports. Cowen and Company lifted their price objective on Tetra Technologies from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, May 10th. Credit Suisse Group AG upgraded Tetra Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $9.00 in a report on Wednesday, June 1st. Wunderlich cut their price objective on Tetra Technologies from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 10th. Royal Bank Of Canada cut their price objective on Tetra Technologies from $6.25 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. Finally, Johnson Rice upgraded Tetra Technologies from an “accumulate” rating to a “buy” rating in a report on Tuesday, May 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $8.66.
The firm has a 50-day moving average of $6.12 and a 200-day moving average of $6.00. The company’s market cap is $483.45 million.
Tetra Technologies (NYSE:TTI) last released its earnings results on Monday, May 9th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $169.20 million for the quarter, compared to analyst estimates of $204.66 million. The firm’s quarterly revenue was down 32.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) earnings per share. On average, equities research analysts forecast that Tetra Technologies Inc. will post ($0.47) earnings per share for the current fiscal year.
In related news, VP Bass C. Wallace, Jr. sold 10,300 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $5.86, for a total transaction of $60,358.00. Following the completion of the sale, the vice president now owns 131,373 shares of the company’s stock, valued at approximately $769,845.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Peter J. Pintar sold 20,545 shares of the company’s stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $5.90, for a total transaction of $121,215.50. Following the sale, the vice president now directly owns 324,179 shares of the company’s stock, valued at approximately $1,912,656.10. The disclosure for this sale can be found here.
Other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised 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. Trexquant Investment LP purchased a new position in Tetra Technologies during the fourth quarter valued at $1,386,000. Victory Capital Management Inc. raised 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. Finally, State of Wisconsin Investment Board raised 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.
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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