TETRA Technologies (NYSE:TTI) Shares Gap Up – Should You Buy?

TETRA Technologies, Inc. (NYSE:TTI) shares gapped up prior to trading on Wednesday . The stock had previously closed at $3.67, but opened at $3.78. TETRA Technologies shares last traded at $3.84, with a volume of 154,632 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports 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. D. Boral Capital restated a “buy” rating and issued a $5.50 price target on shares of TETRA Technologies in a research note on Tuesday. Finally, StockNews.com upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $6.50.

TETRA Technologies Stock Performance

The company has a 50 day simple moving average of $3.60 and a 200 day simple moving average of $3.39. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The stock has a market cap of $453.43 million, a price-to-earnings ratio of 172.09 and a beta of 2.10.

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

Institutional Trading of TETRA Technologies

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in TETRA Technologies by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,085 shares of the oil and gas company’s stock worth $170,000 after buying an additional 3,792 shares during the period. HITE Hedge Asset Management LLC increased its holdings in TETRA Technologies by 0.3% in the third quarter. HITE Hedge Asset Management LLC now owns 1,266,869 shares of the oil and gas company’s stock valued at $3,927,000 after purchasing an additional 4,393 shares during the period. Point72 DIFC Ltd increased its holdings in TETRA Technologies by 82.0% in 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 period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TETRA Technologies by 27.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,812 shares of the oil and gas company’s stock worth $124,000 after buying an additional 7,784 shares during the period. Finally, FMR LLC grew its position in shares of TETRA Technologies by 75.0% in the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 8,084 shares during the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.

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.