Tetra Technologies (NYSE:TTI) Shares Gap Down – Time to Sell?

Tetra Technologies, Inc. (NYSE:TTI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $10.89, but opened at $9.75. Tetra Technologies shares last traded at $10.25, with a volume of 2,092,224 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tetra Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Tetra Technologies Price Performance

The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.36 billion, a PE ratio of 200.24 and a beta of 1.22. The firm has a 50 day moving average of $9.38 and a two-hundred day moving average of $9.50.

Tetra Technologies (NYSE:TTI) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The business had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $151.20 million. Research analysts predict that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of Tetra Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Tetra Technologies by 2.1% in the third quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock worth $48,628,000 after buying an additional 174,028 shares in the last quarter. Rubric Capital Management LP bought a new position in Tetra Technologies in the 3rd quarter valued at approximately $26,046,000. Dimensional Fund Advisors LP boosted its stake in Tetra Technologies by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock valued at $25,414,000 after purchasing an additional 72,338 shares during the last quarter. State Street Corp boosted its stake in Tetra Technologies by 11.2% during the 4th quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company’s stock valued at $32,541,000 after purchasing an additional 350,051 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Tetra Technologies by 13.8% in the 3rd quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock worth $19,642,000 after buying an additional 414,076 shares in the last quarter. 70.19% of the stock is currently owned by institutional investors.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.