Tetra Technologies (NYSE:TTI) Trading Down 6.5% After Insider Selling

Tetra Technologies, Inc. (NYSE:TTI)’s share price dropped 6.5% on Wednesday after an insider sold shares in the company. The company traded as low as $7.69 and last traded at $7.7020. Approximately 916,878 shares were traded during trading, a decline of 47% from the average daily volume of 1,724,058 shares. The stock had previously closed at $8.24.

Specifically, VP Shoemake Alicia R. Boston sold 19,257 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $7.94, for a total transaction of $152,900.58. Following the completion of the transaction, the vice president directly owned 132,672 shares in the company, valued at approximately $1,053,415.68. This trade represents a 12.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

Several analysts have recently commented on TTI shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a research report on Tuesday, October 14th. Wall Street Zen cut Tetra Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Northland Securities set a $8.50 price target on Tetra Technologies in a report on Thursday, October 30th. Stifel Nicolaus increased their price objective on Tetra Technologies from $6.50 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, D. Boral Capital upped their target price on shares of Tetra Technologies from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Tetra Technologies Trading Down 7.9%

The company has a current ratio of 2.35, a quick ratio of 1.61 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 8.34 and a beta of 1.36. The business has a 50 day simple moving average of $6.28 and a 200-day simple moving average of $4.46.

Tetra Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. The business had revenue of $153.24 million for the quarter, compared to analyst estimates of $144.40 million. Tetra Technologies has set its FY 2025 guidance at EPS. On average, equities analysts predict that Tetra Technologies, Inc. will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Tetra Technologies

A number of large investors have recently bought and sold shares of TTI. Vanguard Group Inc. grew its stake in shares of Tetra Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock valued at $48,628,000 after buying an additional 174,028 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Tetra Technologies by 1.7% in 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 in the last quarter. American Century Companies Inc. lifted its position in Tetra Technologies by 13.8% during the third quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock valued at $19,642,000 after buying an additional 414,076 shares in the last quarter. Geode Capital Management LLC lifted its position in Tetra Technologies by 3.5% during the second quarter. Geode Capital Management LLC now owns 2,919,275 shares of the oil and gas company’s stock valued at $9,810,000 after buying an additional 99,381 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in Tetra Technologies by 26.1% during the second quarter. Frontier Capital Management Co. LLC now owns 2,837,749 shares of the oil and gas company’s stock worth $9,535,000 after buying an additional 586,493 shares during the period. 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.