Tetra Technologies Inc. (TTI) Shares Up 4.2%
Shares of Tetra Technologies Inc. (NYSE:TTI) shot up 4.2% on Thursday . The company traded as high as $6.77 and last traded at $6.64, with a volume of 548,605 shares. The stock had previously closed at $6.37.
TTI has been the topic of a number of research reports. Credit Suisse Group AG set a $8.00 target price on shares of Tetra Technologies and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Wunderlich lowered their target price on shares of Tetra Technologies from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, June 10th. Zacks Investment Research upgraded shares of Tetra Technologies from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Wednesday, August 10th. JPMorgan Chase & Co. set a $8.00 target price on shares of Tetra Technologies and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Morgan Stanley initiated coverage on shares of Tetra Technologies in a research report on Wednesday, August 10th. They set an “overweight” rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $8.26.
The company’s market cap is $612.78 million. The company has a 50 day moving average of $6.16 and a 200 day moving average of $6.05.
Tetra Technologies (NYSE:TTI) last announced its earnings results on Monday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.03. The business earned $175.66 million during the quarter, compared to analyst estimates of $188.42 million. During the same period in the previous year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was down 44.5% on a year-over-year basis. Equities research analysts predict that Tetra Technologies Inc. will post ($0.48) earnings per share for the current fiscal year.
In related news, VP Joseph J. Meyer sold 11,246 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 17,011 shares of the company’s stock, valued at approximately $92,029.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Peter J. Pintar sold 20,545 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $5.90, for a total value of $121,215.50. Following the sale, the vice president now directly owns 324,179 shares in the company, valued at $1,912,656.10. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of TTI. Trexquant Investment LP purchased a new stake in Tetra Technologies during the fourth quarter valued at about $1,386,000. Victory Capital Management Inc. raised its stake 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 in the last quarter. Finally, State of Wisconsin Investment Board raised its stake 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 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.
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