TETRA Technologies (NYSE:TTI) Shares Gap Down to $4.29

TETRA Technologies, Inc. (NYSE:TTI)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $4.29, but opened at $3.95. TETRA Technologies shares last traded at $3.96, with a volume of 1,096,427 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of TETRA Technologies in a research report on Wednesday. Northland Securities assumed coverage on shares of TETRA Technologies in a research report on Tuesday, February 20th. They set an “outperform” rating and a $6.00 price objective for the company. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

TETRA Technologies Price Performance

The company’s 50-day simple moving average is $4.33 and its 200 day simple moving average is $4.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 2.24. The company has a market cap of $493.09 million, a PE ratio of 18.70 and a beta of 2.20.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. TETRA Technologies had a return on equity of 25.28% and a net margin of 4.12%. The business had revenue of $153.13 million during the quarter, compared to the consensus estimate of $144.76 million. On average, sell-side analysts predict that TETRA Technologies, Inc. will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TETRA Technologies

Large investors have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of TETRA Technologies during the 3rd quarter worth approximately $33,000. Fortitude Family Office LLC purchased a new stake in TETRA Technologies in the fourth quarter valued at $26,000. Byrne Asset Management LLC boosted its stake in TETRA Technologies by 63.3% in the third quarter. Byrne Asset Management LLC now owns 9,800 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 3,800 shares in the last quarter. PFG Investments LLC purchased a new position in shares of TETRA Technologies during the first quarter worth about $44,000. Finally, AXQ Capital LP acquired a new stake in shares of TETRA Technologies during the third quarter worth about $90,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

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.