Tetra Technologies (NYSE:TTI) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.56 and traded as high as $8.75. Tetra Technologies shares last traded at $8.3850, with a volume of 1,559,368 shares traded.

Wall Street Analysts Forecast Growth

TTI has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a report on Monday, January 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. CJS Securities assumed coverage on Tetra Technologies in a research report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 target price for the company. Northland Securities boosted their price target on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 31st. Finally, Clear Str lowered shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Price Performance

The company’s 50-day simple moving average is $9.99 and its 200 day simple moving average is $8.56. The company has a market cap of $1.13 billion, a PE ratio of 419.25 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 2.02.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $146.68 million for the quarter, compared to analysts’ expectations of $140.98 million. Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%. On average, sell-side analysts predict that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tetra Technologies

Several large investors have recently bought and sold shares of the stock. Rubric Capital Management LP acquired a new stake in Tetra Technologies in the 3rd quarter valued at about $26,046,000. Price T Rowe Associates Inc. MD grew its position in shares of Tetra Technologies by 2,392.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,072,139 shares of the oil and gas company’s stock worth $28,787,000 after buying an additional 2,948,885 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Tetra Technologies during the fourth quarter worth approximately $27,094,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Tetra Technologies during the fourth quarter worth approximately $25,359,000. Finally, Wellington Management Group LLP acquired a new stake in Tetra Technologies in the fourth quarter valued at approximately $15,773,000. Hedge funds and other institutional investors 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.