Tetra Technologies (NYSE:TTI) Reaches New 12-Month Low - Should You Sell?

Key Points

• Tetra Technologies shares fell to a new 52-week low of $5.59, closing well below their 50-day and 200-day moving averages. The stock was last trading around $5.66, down from the prior close of $6.11.
• Despite the decline, analysts maintain a generally positive outlook, with an average rating of “Buy” and an average price target of $11.17. Recent targets range from $10 to $12, while ratings include one Strong Buy, three Buys and one Hold.
• The company met quarterly EPS expectations at $0.08 and exceeded revenue forecasts with $185.66 million in sales. A director also purchased 10,000 shares at $6.50, while institutional investors own approximately 70.19% of the stock.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $5.59 and last traded at $5.6550, with a volume of 3,187,596 shares. The stock had previously closed at $6.11.

Analysts Set New Price Targets

Several research firms recently weighed in on TTI. Northland Securities set a $10.00 price objective on Tetra Technologies in a research report on Tuesday, September 1st. Weiss Ratings cut Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. Stifel Nicolaus lowered their price objective on shares of Tetra Technologies from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, September 23rd. Finally, Clear Str raised shares of Tetra Technologies from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $11.17.

Tetra Technologies Price Performance

The stock has a market cap of $837.34 million, a price-to-earnings ratio of 30.55 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76. The stock's 50 day simple moving average is $6.87 and its two-hundred day simple moving average is $8.56.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.08. The company had revenue of $185.66 million during the quarter, compared to analysts' expectations of $176.16 million. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. During the same quarter in the prior year, the company posted $0.08 EPS. On average, analysts forecast that Tetra Technologies, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Tetra Technologies

In other Tetra Technologies news, Director Angela John bought 10,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were acquired at an average price of $6.50 per share, with a total value of $65,000.00. Following the completion of the purchase, the director directly owned 97,434 shares in the company, valued at $633,321. The trade was a 11.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 6.27% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new stake in shares of Tetra Technologies during the 2nd quarter worth about $27,000. KBC Group NV bought a new position in Tetra Technologies during the 1st quarter valued at about $27,000. Rockefeller Capital Management L.P. bought a new position in Tetra Technologies during the 4th quarter valued at about $45,000. Royal Bank of Canada lifted its holdings in Tetra Technologies by 133.1% during the 1st quarter. Royal Bank of Canada now owns 9,164 shares of the oil and gas company's stock valued at $78,000 after purchasing an additional 5,232 shares during the last quarter. Finally, State of Wyoming acquired a new position in Tetra Technologies in the second quarter valued at about $106,000. Institutional investors own 70.19% of the company's stock.

About Tetra Technologies

Tetra Technologies, Inc NYSE: TTI is an energy services and solutions company that provides specialized products and services to the oil and gas industry, with additional activities related to energy transition. The company serves customers involved in drilling, well completion, production and offshore operations.

Tetra's Completion Fluids & Products segment supplies clear brine fluids, completion-fluid additives and related products used to control pressure and protect reservoirs during well-completion and workover activities.

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