Shares of TETRA Technologies, Inc. (NYSE:TTI) dropped 10.4% on Wednesday . The stock traded as low as $1.89 and last traded at $1.90, approximately 697,398 shares changed hands during mid-day trading. An increase of 13% from the average daily volume of 616,524 shares. The stock had previously closed at $2.12.

TTI has been the subject of several recent research reports. Zacks Investment Research upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $2.50 price objective on shares of TETRA Technologies in a research report on Sunday, August 11th. Finally, ValuEngine upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.83.

The company has a quick ratio of 1.23, a current ratio of 1.89 and a debt-to-equity ratio of 3.07. The company has a market cap of $266.24 million, a P/E ratio of -38.00 and a beta of 1.76. The business has a fifty day moving average of $1.85 and a 200 day moving average of $1.88.

TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, August 8th. The oil and gas company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $288.80 million during the quarter, compared to the consensus estimate of $284.15 million. TETRA Technologies had a negative return on equity of 3.45% and a negative net margin of 1.92%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, sell-side analysts anticipate that TETRA Technologies, Inc. will post -0.07 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in TETRA Technologies by 78.9% in the second quarter. Russell Investments Group Ltd. now owns 4,357,782 shares of the oil and gas company’s stock worth $7,104,000 after purchasing an additional 1,921,705 shares in the last quarter. Boston Partners raised its holdings in TETRA Technologies by 44.4% in the second quarter. Boston Partners now owns 1,871,579 shares of the oil and gas company’s stock worth $3,051,000 after purchasing an additional 575,631 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in TETRA Technologies by 6.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,638,558 shares of the oil and gas company’s stock worth $2,671,000 after purchasing an additional 102,976 shares in the last quarter. Northern Trust Corp raised its holdings in TETRA Technologies by 1.9% in the second quarter. Northern Trust Corp now owns 1,601,559 shares of the oil and gas company’s stock worth $2,611,000 after purchasing an additional 29,216 shares in the last quarter. Finally, RK Capital Management LLC raised its holdings in TETRA Technologies by 3.9% in the second quarter. RK Capital Management LLC now owns 1,539,824 shares of the oil and gas company’s stock worth $2,510,000 after purchasing an additional 58,000 shares in the last quarter. Institutional investors own 82.73% of the company’s stock.

TETRA Technologies Company Profile (NYSE:TTI)

TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.

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