Tetra Technologies (NYSE:TTI) Shares Gap Down – Here’s Why

Shares of Tetra Technologies, Inc. (NYSE:TTI) gapped down prior to trading on Wednesday . The stock had previously closed at $8.67, but opened at $8.11. Tetra Technologies shares last traded at $8.52, with a volume of 142,971 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Northland Securities boosted their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Weiss Ratings lowered Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Tetra Technologies Stock Performance

The business has a 50 day moving average of $9.47 and a 200-day moving average of $9.68. The company has a market capitalization of $1.14 billion, a P/E ratio of 215.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 2.46.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.During the same quarter last year, the company earned $0.08 EPS. On average, sell-side analysts predict that Tetra Technologies, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Kurt Hallead acquired 22,000 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $9.86 per share, with a total value of $216,920.00. Following the completion of the purchase, the vice president owned 170,764 shares in the company, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total transaction of $536,000.00. Following the sale, the chief executive officer directly owned 2,965,457 shares in the company, valued at $31,789,699.04. This trade represents a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. KBC Group NV purchased a new position in Tetra Technologies during the first quarter worth about $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Tetra Technologies in the 4th quarter valued at about $33,000. Stone House Investment Management LLC purchased a new stake in shares of Tetra Technologies in the 4th quarter valued at about $39,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Tetra Technologies in the 4th quarter valued at about $45,000. Finally, Generali Investments Management Co LLC bought a new stake in shares of Tetra Technologies during the 4th quarter valued at about $54,000. Institutional investors own 70.19% of the company’s stock.

About Tetra Technologies

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.