Tetra Technologies (NYSE:TTI) Reaches New 12-Month Low – Time to Sell?

Tetra Technologies, Inc. (NYSE:TTI) shares hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.96 and last traded at $4.9450, with a volume of 506,965 shares. The stock had previously closed at $5.35.

Analyst Ratings Changes

A number of equities analysts recently commented on TTI shares. Clear Str raised Tetra Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Stifel Nicolaus decreased their target price on shares of Tetra Technologies from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. Northland Securities set a $10.00 target price on shares of Tetra Technologies in a research report on Tuesday, September 1st. Finally, Weiss Ratings lowered shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $11.17.

Tetra Technologies Price Performance

The business’s 50 day moving average is $6.47 and its two-hundred day moving average is $8.42. The firm has a market cap of $763.46 million, a P/E ratio of 128.93 and a beta of 1.26. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $185.66 million for the quarter, compared to analysts’ expectations of $176.16 million. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, analysts anticipate that Tetra Technologies, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Tetra Technologies

In other Tetra Technologies news, Director Angela John acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were bought at an average cost of $6.50 per share, with a total value of $65,000.00. Following the purchase, the director directly owned 97,434 shares of the company’s stock, valued at $633,321. This trade represents a 11.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.27% of the company’s stock.

Institutional Investors Weigh In On Tetra Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP acquired a new stake in Tetra Technologies during the second quarter worth approximately $27,000. KBC Group NV bought a new stake in shares of Tetra Technologies in the 1st quarter valued at $27,000. Rockefeller Capital Management L.P. bought a new stake in shares of Tetra Technologies in the 4th quarter valued at $45,000. State of Alaska Department of Revenue increased its stake in shares of Tetra Technologies by 40.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,975 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 2,023 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Tetra Technologies by 133.1% during the 1st quarter. Royal Bank of Canada now owns 9,164 shares of the oil and gas company’s stock valued at $78,000 after acquiring an additional 5,232 shares during the period. Institutional investors own 70.19% of the company’s stock.

About Tetra Technologies

TETRA Technologies, Inc is an energy services and products company that supports oil and gas exploration and production activities. The company provides specialized fluids, water management solutions and related services used in drilling, well completion, production and industrial applications.

TETRA’s Completion Fluids & Products business supplies clear brine fluids, including calcium bromide and other bromide-based products, as well as associated completion-fluid services. These fluids are used to control pressure and protect well formations during completion and workover operations.