Tetra Technologies Inc. (TTI) Stock Price Down 7.8%
Tetra Technologies Inc. (NYSE:TTI)’s share price fell 7.8% during mid-day trading on Tuesday . The stock traded as low as $5.99 and last traded at $6.00, with a volume of 305,726 shares. The stock had previously closed at $6.51.
Several research firms have issued reports on TTI. Howard Weil lowered shares of Tetra Technologies from a “sector outperform” rating to a “sector perform” rating in a report on Monday, March 28th. Wunderlich dropped their price objective on shares of Tetra Technologies from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 10th. Scotiabank reissued a “sector perform” rating on shares of Tetra Technologies in a report on Monday, March 28th. Zacks Investment Research raised shares of Tetra Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, Credit Suisse Group AG raised shares of Tetra Technologies from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $6.50 to $9.00 in a report on Wednesday, June 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.91.
The firm has a 50-day moving average price of $5.85 and a 200 day moving average price of $6.12. The stock’s market capitalization is $511.20 million.
Tetra Technologies (NYSE:TTI) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.07. During the same quarter last year, the firm earned ($0.03) EPS. The firm had revenue of $169.20 million for the quarter, compared to analyst estimates of $204.66 million. The company’s quarterly revenue was down 32.2% on a year-over-year basis. Analysts expect that Tetra Technologies Inc. will post ($0.50) EPS for the current year.
In related news, VP Bass C. Wallace, Jr. sold 10,300 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $5.86, for a total value of $60,358.00. Following the transaction, the vice president now directly owns 131,373 shares of the company’s stock, valued at approximately $769,845.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Peter J. Pintar sold 20,545 shares of the stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $5.90, for a total transaction of $121,215.50. Following the completion of the transaction, 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 hedge funds and institutional investors recently bought and sold shares of TTI. Neuberger Berman Group LLC increased its position in Tetra Technologies by 0.8% in the fourth quarter. Neuberger Berman Group LLC now owns 2,512,246 shares of the company’s stock worth $18,892,000 after buying an additional 20,337 shares during the period. EAM Investors LLC bought a new position in Tetra Technologies during the fourth quarter worth approximately $3,372,000. Trexquant Investment LP bought a new position in Tetra Technologies during the fourth quarter worth approximately $1,386,000. Victory Capital Management Inc. increased 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 worth $1,179,000 after buying an additional 21,495 shares during the period. Finally, State of Wisconsin Investment Board increased 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 worth $1,123,000 after buying an additional 4,466 shares during the period.
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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