TETRA Technologies, Inc. (NYSE:TTI) Short Interest Update

TETRA Technologies, Inc. (NYSE:TTI) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 3,220,000 shares, a decline of 24.2% from the February 13th total of 4,250,000 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is currently 3.1 days.

TETRA Technologies Price Performance

Shares of TTI traded down $0.05 during midday trading on Tuesday, hitting $3.35. 876,781 shares of the company traded hands, compared to its average volume of 1,168,520. The firm has a 50 day moving average of $4.12 and a 200-day moving average of $3.67. TETRA Technologies has a 52 week low of $2.68 and a 52 week high of $5.12. The stock has a market cap of $444.05 million, a price-to-earnings ratio of 167.78 and a beta of 2.04. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.33.

TETRA Technologies (NYSE:TTI) last announced its earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $134.50 million for the quarter, compared to analysts’ expectations of $138.96 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. On average, analysts forecast that TETRA Technologies will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On TETRA Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Pullen Investment Management LLC grew its stake in TETRA Technologies by 105.5% in the 4th quarter. Pullen Investment Management LLC now owns 507,650 shares of the oil and gas company’s stock worth $1,817,000 after acquiring an additional 260,611 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in TETRA Technologies by 18.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,515 shares of the oil and gas company’s stock worth $1,044,000 after acquiring an additional 45,535 shares in the last quarter. Two Sigma Investments LP grew its stake in TETRA Technologies by 51.2% in the 4th quarter. Two Sigma Investments LP now owns 187,072 shares of the oil and gas company’s stock worth $670,000 after acquiring an additional 63,370 shares in the last quarter. ProShare Advisors LLC grew its stake in TETRA Technologies by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 35,357 shares of the oil and gas company’s stock worth $127,000 after acquiring an additional 11,634 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in TETRA Technologies by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,839 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 3,124 shares in the last quarter. 70.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, D. Boral Capital restated a “buy” rating and issued a $5.50 price objective on shares of TETRA Technologies in a report on Thursday, February 27th.

TETRA Technologies Company Profile

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.