Tetra Technologies, Inc. $TTI Position Lessened by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC cut its stake in Tetra Technologies, Inc. (NYSE:TTI) by 9.6% during the fourth quarter, HoldingsChannel reports. The fund owned 946,087 shares of the oil and gas company’s stock after selling 100,000 shares during the quarter. Tetra Technologies comprises about 3.1% of Manatuck Hill Partners LLC’s holdings, making the stock its 7th largest position. Manatuck Hill Partners LLC’s holdings in Tetra Technologies were worth $8,865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Tetra Technologies in the 4th quarter valued at $33,000. Stone House Investment Management LLC purchased a new position in shares of Tetra Technologies in the 4th quarter valued at $39,000. Generali Investments Management Co LLC purchased a new position in shares of Tetra Technologies in the 4th quarter valued at $54,000. Allworth Financial LP increased its holdings in shares of Tetra Technologies by 219.3% in the 4th quarter. Allworth Financial LP now owns 6,009 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 4,127 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Tetra Technologies by 31.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 1,473 shares during the period. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Insider Activity

In related news, VP Kurt Hallead acquired 22,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $9.86 per share, with a total value of $216,920.00. Following the acquisition, the vice president directly owned 170,764 shares in the company, valued at $1,683,733.04. This represents a 14.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.27% of the stock is currently owned by company insiders.

Tetra Technologies Stock Up 0.3%

Tetra Technologies stock opened at $10.18 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The business’s 50-day simple moving average is $9.78 and its two-hundred day simple moving average is $9.71. The company has a market cap of $1.35 billion, a PE ratio of 203.68 and a beta of 1.22. Tetra Technologies, Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $12.54.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $156.25 million for the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. Equities analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Tetra Technologies Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.