Tetra Technologies (NYSE:TTI) Reaches New 12-Month Low - Time to Sell?

Key Points

• Tetra Technologies fell to a new 52-week low of $4.96, down from a previous close of $5.35, with its 50-day and 200-day moving averages at $6.47 and $8.42, respectively.
• Despite the decline, analysts maintain an overall “Buy” rating and an average price target of $11.17; ratings include one Strong Buy, three Buys, and one Hold.
• The company met quarterly EPS expectations at $0.08 and exceeded revenue estimates, while insiders and institutional investors continued accumulating shares. Director Angela John bought 10,000 shares, and institutions own approximately 70.19% of the stock.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) hit a new 52-week low on Thursday. The stock traded as low as $4.96 and last traded at $4.9450, with a volume of 506,965 shares changing hands. The stock had previously closed at $5.35.

Analyst Ratings Changes

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

Tetra Technologies Stock Down 3.6%

The stock has a 50 day moving average price of $6.47 and a 200 day moving average price of $8.42. The stock has a market capitalization of $763.46 million, a price-to-earnings ratio of 128.93 and a beta of 1.26. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43.

Tetra Technologies (NYSE:TTI - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, analysts forecast that Tetra Technologies, Inc. will post 0.24 EPS for the current year.

Insider Transactions at Tetra Technologies

In other Tetra Technologies news, Director Angela John purchased 10,000 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was purchased 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 owned 97,434 shares of the company's stock, valued at approximately $633,321. The trade was a 11.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 6.27% of the company's stock.

Hedge Funds Weigh In On Tetra Technologies

Hedge funds have recently modified their holdings of the business. Kings Path Partners LLC acquired a new stake in Tetra Technologies in the third quarter valued at $187,000. Penbrook Management LLC raised its position in Tetra Technologies by 165.7% during the 3rd quarter. Penbrook Management LLC now owns 69,760 shares of the oil and gas company's stock worth $409,000 after purchasing an additional 43,500 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Tetra Technologies by 40.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,975 shares of the oil and gas company's stock worth $40,000 after buying an additional 2,023 shares during the period. Baird Financial Group Inc. acquired a new position in Tetra Technologies during the 2nd quarter worth about $280,000. Finally, Corient Private Wealth LP acquired a new position in Tetra Technologies during the 2nd quarter worth about $114,000. Institutional investors and hedge funds own 70.19% of the company's stock.

About Tetra Technologies

TETRA Technologies, Inc is an energy services and products company that supports oil and gas exploration and production activities. The company provides specialized fluids, water management solutions and related services used in drilling, well completion, production and industrial applications.

TETRA's Completion Fluids & Products business supplies clear brine fluids, including calcium bromide and other bromide-based products, as well as associated completion-fluid services. These fluids are used to control pressure and protect well formations during completion and workover operations.

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