Tetra Technologies Inc. (TTI) Trading 4.9% Higher
Tetra Technologies Inc. (NYSE:TTI)’s share price traded up 4.9% during trading on Thursday . The company traded as high as $6.41 and last traded at $6.23, with a volume of 962,127 shares traded. The stock had previously closed at $5.94.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Tetra Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. JPMorgan Chase & Co. set a $8.00 target price on Tetra Technologies and gave the company a “buy” rating in a research report on Tuesday. Simmons restated an “overweight” rating on shares of Tetra Technologies in a research report on Wednesday. Wunderlich reduced their target price on Tetra Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, May 10th. Finally, Morgan Stanley assumed coverage on Tetra Technologies in a research report on Wednesday. They issued an “overweight” rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Tetra Technologies currently has an average rating of “Buy” and an average target price of $8.33.
The company’s market capitalization is $510.69 million. The company has a 50-day moving average of $6.08 and a 200-day moving average of $6.02.
Tetra Technologies (NYSE:TTI) last announced its earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $175.66 million for the quarter, compared to analyst estimates of $188.42 million. Tetra Technologies’s quarterly revenue was down 44.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS. Equities analysts anticipate that Tetra Technologies Inc. will post ($0.47) earnings per share for the current fiscal year.
In other Tetra Technologies news, VP Elisabeth K. Evans sold 16,205 shares of the stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $6.02, for a total transaction of $97,554.10. Following the sale, the vice president now owns 31,908 shares in the company, valued at approximately $192,086.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Joseph J. Meyer sold 11,246 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $5.41, for a total value of $60,840.86. Following the sale, the vice president now owns 17,011 shares in the company, valued at approximately $92,029.51. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of the company. State of Wisconsin Investment Board raised 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. Victory Capital Management Inc. raised 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. Finally, Trexquant Investment LP acquired a new position in shares of Tetra Technologies during the fourth quarter worth $1,386,000.
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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