TETRA Technologies, Inc. (NYSE:TTI) Short Interest Update

TETRA Technologies, Inc. (NYSE:TTI) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,220,000 shares, a drop of 24.2% from the February 13th total of 4,250,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.6% of the shares of the company are sold short.

TETRA Technologies Trading Down 1.4 %

Shares of TTI stock opened at $3.35 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. TETRA Technologies has a twelve month low of $2.68 and a twelve month high of $5.12. The company has a market capitalization of $444.05 million, a P/E ratio of 167.78 and a beta of 2.04. The business’s 50 day moving average is $4.11 and its two-hundred day moving average is $3.67.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The firm had revenue of $134.50 million for the quarter, compared to the consensus estimate of $138.96 million. Equities analysts forecast that TETRA Technologies will post 0.15 EPS for the current year.

Institutional Trading of TETRA Technologies

A number of institutional investors have recently modified their holdings of TTI. US Bancorp DE boosted its stake in shares of TETRA Technologies by 2,038.0% in the third quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 16,875 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of TETRA Technologies in the third quarter valued at approximately $118,000. Foundry Partners LLC boosted its position in TETRA Technologies by 1.0% during the third quarter. Foundry Partners LLC now owns 989,665 shares of the oil and gas company’s stock worth $3,068,000 after purchasing an additional 9,400 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in TETRA Technologies by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 994,177 shares of the oil and gas company’s stock worth $3,082,000 after purchasing an additional 26,322 shares in the last quarter. Finally, FMR LLC boosted its position in TETRA Technologies by 75.0% during the third quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 8,084 shares in the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital reiterated a “buy” rating and issued a $5.50 target price on shares of TETRA Technologies in a research note on Thursday, February 27th.

About TETRA Technologies

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products 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.