Tetra Technologies (NYSE:TTI) Share Price Passes Above 200 Day Moving Average – What’s Next?

Tetra Technologies, Inc. (NYSE:TTI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.87 and traded as high as $12.00. Tetra Technologies shares last traded at $11.5710, with a volume of 1,574,119 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TTI. Weiss Ratings restated a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Wall Street Zen lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Clear Str cut shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. CJS Securities assumed coverage on Tetra Technologies in a report on Thursday, December 11th. They set an “outperform” rating and a $11.50 price target for the company. Finally, Stifel Nicolaus boosted their price target on Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Tetra Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Stock Up 1.6%

The firm has a market cap of $1.55 billion, a P/E ratio of 12.72 and a beta of 1.11. The firm’s fifty day moving average is $9.57 and its 200 day moving average is $6.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.56 and a current ratio of 2.35.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. The firm had revenue of $153.24 million for the quarter, compared to analysts’ expectations of $144.40 million. As a group, equities research analysts anticipate that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Tetra Technologies

In other news, VP Shoemake Alicia R. Boston sold 19,257 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $7.94, for a total value of $152,900.58. Following the completion of the sale, the vice president owned 132,672 shares of the company’s stock, valued at approximately $1,053,415.68. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.71% of the company’s stock.

Institutional Trading of Tetra Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pullen Investment Management LLC increased its holdings in Tetra Technologies by 16.4% in the 3rd quarter. Pullen Investment Management LLC now owns 695,165 shares of the oil and gas company’s stock valued at $3,997,000 after buying an additional 97,937 shares during the period. Squarepoint Ops LLC increased its stake in Tetra Technologies by 114.0% in the second quarter. Squarepoint Ops LLC now owns 543,448 shares of the oil and gas company’s stock valued at $1,826,000 after acquiring an additional 289,456 shares during the last quarter. American Century Companies Inc. increased its stake in Tetra Technologies by 15.5% in the second quarter. American Century Companies Inc. now owns 3,001,941 shares of the oil and gas company’s stock valued at $10,087,000 after acquiring an additional 402,495 shares during the last quarter. Everett Harris & Co. CA raised its position in Tetra Technologies by 40.1% during the second quarter. Everett Harris & Co. CA now owns 921,265 shares of the oil and gas company’s stock valued at $3,095,000 after purchasing an additional 263,880 shares in the last quarter. Finally, CSM Advisors LLC bought a new stake in Tetra Technologies during the second quarter worth $3,228,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

About Tetra Technologies

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.