Tetra Technologies (NYSE:TTI) Sets New 52-Week Low – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $5.59 and last traded at $5.6550, with a volume of 3,187,596 shares changing hands. The stock had previously closed at $6.11.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TTI. Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Stifel Nicolaus decreased their price target on Tetra Technologies from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Clear Str raised Tetra Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Northland Securities set a $10.00 price objective on Tetra Technologies in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.17.

Tetra Technologies Stock Performance

The company has a market capitalization of $837.34 million, a P/E ratio of 30.55 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76. The stock’s 50 day simple moving average is $6.87 and its two-hundred day simple moving average is $8.56.

Tetra Technologies (NYSE:TTI) last announced its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The company had revenue of $185.66 million for the quarter, compared to analyst estimates of $176.16 million. During the same period in the prior year, the business earned $0.08 earnings per share. As a group, research analysts expect that Tetra Technologies, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Tetra Technologies

In related news, Director Angela John acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average price of $6.50 per share, for a total transaction of $65,000.00. Following the transaction, the director directly owned 97,434 shares of the company’s stock, valued at approximately $633,321. This trade represents a 11.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Tetra Technologies in the 2nd quarter valued at $138,491,000. SIR Capital Management L.P. bought a new stake in shares of Tetra Technologies during the second quarter worth $1,810,000. Ranger Investment Management L.P. acquired a new position in shares of Tetra Technologies during the second quarter valued at $5,190,000. Edgestream Partners L.P. acquired a new position in shares of Tetra Technologies during the first quarter valued at $2,874,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Tetra Technologies during the second quarter valued at $4,733,000. 70.19% of the stock is currently owned by institutional investors.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is an energy services and solutions company that provides specialized products and services to the oil and gas industry, with additional activities related to energy transition. The company serves customers involved in drilling, well completion, production and offshore operations.

Tetra’s Completion Fluids & Products segment supplies clear brine fluids, completion-fluid additives and related products used to control pressure and protect reservoirs during well-completion and workover activities.