Tetra Technologies (NYSE:TTI) Hits New 1-Year High - Here's What Happened

Key Points

• Tetra Technologies reached a new 52-week high stock price of $8.05 during trading, closing at $7.42 with a trading volume of 444,627 shares.
• Analysts noted several upgrades, with Wall Street Zen moving the stock from a "hold" to a "buy" rating, and a price target rise from $6.50 to $9.00 set by Stifel Nicolaus.
• The company's financial performance includes earnings per share meeting expectations at $0.09, with a revenue of $173.87 million, exceeding estimates of $172.46 million.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $8.05 and last traded at $7.42, with a volume of 444627 shares trading hands. The stock had previously closed at $7.32.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TTI shares. Wall Street Zen raised Tetra Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Tetra Technologies in a report on Tuesday, October 14th. Stifel Nicolaus increased their price objective on Tetra Technologies from $6.50 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. D. Boral Capital increased their price objective on Tetra Technologies from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Northland Securities increased their price objective on Tetra Technologies from $5.50 to $7.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $7.00.

Tetra Technologies Price Performance

The stock has a fifty day moving average price of $5.20 and a 200-day moving average price of $3.85. The company has a market cap of $1.00 billion, a PE ratio of 8.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.47 and a quick ratio of 1.61.

Tetra Technologies (NYSE:TTI - Get Free Report) last released its earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. The company had revenue of $173.87 million during the quarter, compared to analyst estimates of $172.46 million. Tetra Technologies had a return on equity of 14.10% and a net margin of 18.95%. Tetra Technologies has set its FY 2025 guidance at EPS. On average, equities analysts expect that Tetra Technologies, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Tetra Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Tetra Technologies by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company's stock worth $1,309,000 after buying an additional 3,547 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Tetra Technologies by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,840 shares of the oil and gas company's stock worth $164,000 after acquiring an additional 3,551 shares during the period. Diversified Trust Co grew its holdings in Tetra Technologies by 10.3% during the 1st quarter. Diversified Trust Co now owns 43,565 shares of the oil and gas company's stock worth $146,000 after acquiring an additional 4,058 shares during the period. Byrne Asset Management LLC grew its holdings in Tetra Technologies by 40.3% during the 2nd quarter. Byrne Asset Management LLC now owns 21,426 shares of the oil and gas company's stock worth $72,000 after acquiring an additional 6,149 shares during the period. Finally, Van Hulzen Asset Management LLC grew its holdings in Tetra Technologies by 11.1% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 70,000 shares of the oil and gas company's stock worth $235,000 after acquiring an additional 7,000 shares during the period. 70.19% of the stock is owned by institutional investors and hedge funds.

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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