TETRA Technologies (NYSE:TTI) Stock Price Up 7.4% – Here’s Why

TETRA Technologies, Inc. (NYSE:TTI)’s stock price shot up 7.4% on Thursday . The company traded as high as $3.81 and last traded at $3.79. 862,446 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 1,049,842 shares. The stock had previously closed at $3.53.

Analyst Ratings Changes

Separately, D. Boral Capital reissued a “buy” rating and set a $5.50 price objective on shares of TETRA Technologies in a research note on Wednesday.

TETRA Technologies Trading Down 3.9 %

The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $477.28 million, a price-to-earnings ratio of 180.34 and a beta of 2.04. The business has a 50 day simple moving average of $3.98 and a 200-day simple moving average of $3.69.

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

Institutional Trading of TETRA Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new position in shares of TETRA Technologies during the 3rd quarter valued at $118,000. Charles Schwab Investment Management Inc. grew its stake in shares of TETRA Technologies by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 994,177 shares of the oil and gas company’s stock valued at $3,082,000 after buying an additional 26,322 shares in the last quarter. FMR LLC raised its holdings in shares of TETRA Technologies by 75.0% during the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 8,084 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of TETRA Technologies by 68.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 261,217 shares of the oil and gas company’s stock valued at $810,000 after buying an additional 106,507 shares during the period. Finally, Townsquare Capital LLC acquired a new position in TETRA Technologies during the 3rd quarter worth approximately $36,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

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.