TETRA Technologies (NYSE:TTI) Trading 5.9% Higher – Here’s What Happened

TETRA Technologies, Inc. (NYSE:TTI)’s stock price shot up 5.9% during trading on Tuesday . The stock traded as high as $3.97 and last traded at $3.95. 373,130 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,292,630 shares. The stock had previously closed at $3.73.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TTI. EF Hutton Acquisition Co. I upgraded shares of TETRA Technologies to a “strong-buy” rating in a research report on Monday, October 21st. StockNews.com raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th.

TETRA Technologies Trading Up 4.0 %

The business’s fifty day moving average is $3.55 and its 200-day moving average is $3.38. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.33. The firm has a market cap of $511.42 million, a P/E ratio of 198.60 and a beta of 2.10.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The firm had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $156.43 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was down 6.5% on a year-over-year basis. Analysts predict that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TTI. HITE Hedge Asset Management LLC acquired a new position in TETRA Technologies in the second quarter valued at $4,368,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of TETRA Technologies in the 3rd quarter valued at about $2,546,000. Masters Capital Management LLC boosted its position in shares of TETRA Technologies by 70.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,700,000 shares of the oil and gas company’s stock valued at $5,882,000 after purchasing an additional 700,000 shares in the last quarter. American Century Companies Inc. grew its stake in TETRA Technologies by 153.8% during the second quarter. American Century Companies Inc. now owns 883,431 shares of the oil and gas company’s stock worth $3,057,000 after purchasing an additional 535,413 shares during the period. Finally, Stanley Laman Group Ltd. increased its holdings in TETRA Technologies by 57.9% in the third quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock worth $4,346,000 after purchasing an additional 514,054 shares in the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

TETRA Technologies Company Profile

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.