Tetra Technologies Inc. (TTI) Shares Up 6.4%
Tetra Technologies Inc. (NYSE:TTI) shot up 6.4% during mid-day trading on Friday . The stock traded as high as $6.33 and last traded at $6.30, with a volume of 1,189,228 shares. The stock had previously closed at $5.92.
Several research firms have issued reports on TTI. Zacks Investment Research cut shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $8.00 price target on shares of Tetra Technologies in a research note on Monday, July 18th. Wunderlich raised their price target 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 decreased their price target 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 analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $8.66.
The company’s 50-day moving average is $6.05 and its 200-day moving average is $6.01. The firm’s market cap is $506.78 million.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.07. The business had revenue of $169.20 million for the quarter, compared to analysts’ expectations of $204.66 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The company’s quarterly revenue was down 32.2% compared to the same quarter last year. Equities research analysts expect that Tetra Technologies Inc. will post ($0.47) EPS for the current fiscal year.
In related news, VP Joseph J. Meyer sold 11,246 shares of Tetra Technologies stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $5.41, for a total value of $60,840.86. Following the transaction, the vice president now owns 17,011 shares of the company’s stock, valued at approximately $92,029.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter J. Pintar sold 20,545 shares of Tetra Technologies stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $5.90, for a total value of $121,215.50. Following the completion of the transaction, the vice president now directly owns 324,179 shares in the company, valued at approximately $1,912,656.10. The disclosure for this sale can be found here.
A number of institutional investors recently modified their holdings of the company. Trexquant Investment LP bought a new position in shares of Tetra Technologies during the fourth quarter worth $1,386,000. Victory Capital Management Inc. boosted its position in shares of Tetra Technologies by 15.9% in the fourth quarter. Victory Capital Management Inc. now owns 156,817 shares of the company’s stock worth $1,179,000 after buying an additional 21,495 shares in the last quarter. State of Wisconsin Investment Board boosted its position in shares of Tetra Technologies by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 149,348 shares of the company’s stock worth $1,123,000 after buying an additional 4,466 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Tetra Technologies by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 147,610 shares of the company’s stock worth $1,110,000 after buying an additional 2,662 shares in 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.