Tetra Technologies Inc. (TTI) Trading 4.2% Higher
Tetra Technologies Inc. (NYSE:TTI) traded up 4.2% during mid-day trading on Thursday . The stock traded as high as $6.77 and last traded at $6.64, with a volume of 548,605 shares changing hands. The stock had previously closed at $6.37.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Tetra Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Wunderlich dropped their target price on Tetra Technologies from $10.00 to $6.00 and set a “buy” rating for the company in a report on Friday, June 10th. Credit Suisse Group AG reissued an “outperform” rating and set a $8.00 target price on shares of Tetra Technologies in a report on Monday, July 18th. Simmons reissued an “overweight” rating and set a $7.60 target price (up previously from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. set a $8.00 target price on Tetra Technologies and gave the stock a “buy” rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $8.26.
The firm’s market cap is $618.34 million. The stock’s 50-day moving average price is $6.14 and its 200-day moving average price is $6.04.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. During the same quarter in the previous year, the company posted $0.16 EPS. The firm had revenue of $175.66 million for the quarter, compared to the consensus estimate of $188.42 million. The firm’s revenue was down 44.5% compared to the same quarter last year. On average, equities analysts forecast that Tetra Technologies Inc. will post ($0.48) EPS for the current year.
In related news, VP Peter J. Pintar sold 20,545 shares of the stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $5.90, for a total transaction of $121,215.50. Following the sale, the vice president now owns 324,179 shares of the company’s stock, valued at approximately $1,912,656.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bass C. Wallace, Jr. sold 10,300 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $5.86, for a total value of $60,358.00. Following the sale, the vice president now directly owns 131,373 shares in the company, valued at approximately $769,845.78. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in the stock. State of Wisconsin Investment Board boosted 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 during 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 valued at $1,179,000 after buying an additional 21,495 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of Tetra Technologies during the fourth quarter valued at approximately $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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