Tetra Technologies, Inc. (NYSE:TTI) Short Interest Up 93.1% in July

Key Points

• Tetra Technologies (NYSE:TTI) experienced a significant increase in short interest, rising by 93.1% to 3,340,000 shares as of July 15th, representing about 2.7% of total shares.
• Wall Street analysts have mixed sentiments; while D. Boral Capital and Stifel Nicolaus upgraded their price targets and maintained a "buy" rating, Wall Street Zen downgraded Tetra Technologies from "buy" to "hold."
• The company's recent earnings report showed an EPS of $0.09, meeting analyst expectations and a revenue of $173.87 million, slightly exceeding forecasts.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 3,340,000 shares, agrowthof93.1% from the June 30th total of 1,730,000 shares. Approximately2.7% of the shares of the stock are sold short. Based on an average daily volume of 1,670,000 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 1,670,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately2.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On Tetra Technologies

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Tetra Technologies by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,919,275 shares of the oil and gas company's stock worth $9,810,000 after buying an additional 99,381 shares during the last quarter. Everett Harris & Co. CA grew its position in shares of Tetra Technologies by 40.1% in the 2nd quarter. Everett Harris & Co. CA now owns 921,265 shares of the oil and gas company's stock worth $3,095,000 after buying an additional 263,880 shares during the last quarter. CSM Advisors LLC bought a new stake in shares of Tetra Technologies in the 2nd quarter worth approximately $3,228,000. Versor Investments LP bought a new stake in shares of Tetra Technologies in the 2nd quarter worth approximately $82,000. Finally, Emerald Mutual Fund Advisers Trust grew its position in shares of Tetra Technologies by 13.4% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 68,925 shares of the oil and gas company's stock worth $232,000 after buying an additional 8,166 shares during the last quarter. 70.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TTI has been the topic of several recent research reports. Wall Street Zen lowered Tetra Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. D. Boral Capital raised their price target on Tetra Technologies from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus raised their price target on Tetra Technologies from $6.00 to $6.50 and gave the stock a "buy" rating in a research report on Thursday, July 31st.

Tetra Technologies Trading Up 1.3%

TTI traded up $0.05 on Friday, hitting $3.94. 702,020 shares of the company were exchanged, compared to its average volume of 1,470,811. The firm has a fifty day simple moving average of $3.49 and a two-hundred day simple moving average of $3.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.61 and a current ratio of 2.47. Tetra Technologies has a 12 month low of $2.03 and a 12 month high of $5.12. The stock has a market capitalization of $525.12 million, a PE ratio of 4.61 and a beta of 1.33.

Tetra Technologies (NYSE:TTI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Tetra Technologies had a return on equity of 14.10% and a net margin of 18.95%. The business had revenue of $173.87 million for the quarter, compared to analyst estimates of $172.46 million. Sell-side analysts expect that Tetra Technologies will post 0.15 earnings per share for the current year.

About Tetra Technologies

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.