TETRA Technologies, Inc. (NYSE:TTI) Sees Significant Growth in Short Interest

TETRA Technologies, Inc. (NYSE:TTI) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 3,790,000 shares, an increase of 17.7% from the August 31st total of 3,220,000 shares. Currently, 3.1% of the company’s stock are short sold. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 3.5 days.

Hedge Funds Weigh In On TETRA Technologies

Large investors have recently modified their holdings of the business. Point72 DIFC Ltd boosted its position in TETRA Technologies by 82.0% during the second quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 5,966 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of TETRA Technologies in the 2nd quarter valued at approximately $53,000. Principal Financial Group Inc. grew its stake in shares of TETRA Technologies by 15.4% in the first quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 2,251 shares in the last quarter. Norden Group LLC acquired a new position in TETRA Technologies during the first quarter worth $83,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in TETRA Technologies during the first quarter worth $84,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

TETRA Technologies Stock Up 6.9 %

TETRA Technologies stock traded up $0.20 during midday trading on Monday, reaching $3.10. The stock had a trading volume of 3,255,001 shares, compared to its average volume of 1,325,886. TETRA Technologies has a 1-year low of $2.68 and a 1-year high of $6.77. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.72 and a current ratio of 2.41. The firm’s fifty day simple moving average is $3.16 and its 200-day simple moving average is $3.67. The stock has a market capitalization of $406.53 million, a P/E ratio of 19.38 and a beta of 2.05.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). TETRA Technologies had a return on equity of 18.84% and a net margin of 1.61%. The business had revenue of $171.94 million during the quarter, compared to the consensus estimate of $180.66 million. As a group, analysts expect that TETRA Technologies will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a report on Friday, August 9th.

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.