Tetra Technologies, Inc. (NYSE:TTI) Short Interest Update

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 target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 3,340,000 shares, anincreaseof93.1% from the June 30th total of 1,730,000 shares. Approximately2.7% of the shares of the company are short sold. Based on an average daily volume of 1,670,000 shares, the short-interest ratio is currently 2.0 days. Based on an average daily volume of 1,670,000 shares, the short-interest ratio is currently 2.0 days. Approximately2.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TTI shares. Wall Street Zen downgraded Tetra Technologies from a "buy" rating to a "hold" rating in a 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 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 report on Thursday, July 31st.

Institutional Trading of Tetra Technologies

Large investors have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC acquired a new position in shares of Tetra Technologies during the 4th quarter valued at $40,000. DKM Wealth Management Inc. acquired a new position in shares of Tetra Technologies during the 2nd quarter valued at $42,000. Byrne Asset Management LLC increased its position in shares of Tetra Technologies by 67.9% during the 1st quarter. Byrne Asset Management LLC now owns 15,277 shares of the oil and gas company's stock valued at $51,000 after purchasing an additional 6,177 shares during the period. CWM LLC increased its position in shares of Tetra Technologies by 296.0% during the 2nd quarter. CWM LLC now owns 16,119 shares of the oil and gas company's stock valued at $54,000 after purchasing an additional 12,049 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Tetra Technologies during the 2nd quarter valued at $57,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Tetra Technologies Stock Up 2.7%

TTI opened at $3.97 on Tuesday. Tetra Technologies has a 12 month low of $2.03 and a 12 month high of $5.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.47 and a quick ratio of 1.61. The stock has a market cap of $528.46 million, a P/E ratio of 4.61 and a beta of 1.33. The stock's 50 day moving average price is $3.42 and its 200 day moving average price is $3.40.

Tetra Technologies (NYSE:TTI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Tetra Technologies had a return on equity of 14.10% and a net margin of 18.95%. The firm had revenue of $173.87 million for the quarter, compared to analysts' expectations of $172.46 million. As a group, research analysts predict that Tetra Technologies will post 0.15 earnings per share for the current year.

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.

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