Tetra Technologies (NYSE:TTI) Stock Falls 6.6% - Time to Sell?

Key Points

• Tetra Technologies shares dropped 6.6% to approximately $5.71, with trading volume below its average. The stock is trading below both its 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a consensus “Buy” rating with an average price target of $11.17; recent ratings range from Hold to Strong Buy.
• The company met quarterly EPS expectations at $0.08 and exceeded revenue estimates, while insiders and institutional investors have recently increased their positions.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) shares fell 6.6% on Tuesday. The company traded as low as $5.78 and last traded at $5.7050. 1,094,974 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 1,842,747 shares. The stock had previously closed at $6.11.

Wall Street Analyst Weigh In

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

Tetra Technologies Price Performance

The stock has a market cap of $838.83 million, a P/E ratio of 141.41 and a beta of 1.26. The firm's fifty day moving average price is $6.93 and its 200-day moving average price is $8.58. 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 announced its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%. The company had revenue of $185.66 million during the quarter, compared to analyst estimates of $176.16 million. During the same quarter last year, the firm posted $0.08 earnings per share. Analysts forecast that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at Tetra Technologies

In other Tetra Technologies news, Director Angela John acquired 10,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average cost of $6.50 per share, for a total transaction of $65,000.00. Following the completion of the transaction, the director directly 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 6.27% of the company's stock.

Institutional Investors Weigh In On Tetra Technologies

Hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. bought a new position in Tetra Technologies during the second quarter valued at $280,000. Corient Private Wealth LP purchased a new stake in shares of Tetra Technologies in the second quarter valued at about $114,000. Amundi lifted its position in Tetra Technologies by 249.5% during the 2nd quarter. Amundi now owns 58,017 shares of the oil and gas company's stock worth $657,000 after acquiring an additional 41,419 shares during the period. Benjamin Edwards Inc. grew its stake in Tetra Technologies by 15.4% during the second quarter. Benjamin Edwards Inc. now owns 17,357 shares of the oil and gas company's stock worth $197,000 after buying an additional 2,318 shares during the period. Finally, Penn Capital Management Company LLC grew its stake in Tetra Technologies by 62.4% during the 2nd quarter. Penn Capital Management Company LLC now owns 180,867 shares of the oil and gas company's stock valued at $2,049,000 after purchasing an additional 69,500 shares in the last quarter. Hedge funds and other 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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