Tetra Technologies (NYSE:TTI) Reaches New 52-Week High - Here's What Happened

Key Points

• Tetra Technologies (NYSE: TTI) reached a new 52-week high of $5.12 as it traded an impressive volume of 811,623 shares during mid-day trading.
• Analysts have shown a positive outlook for Tetra Technologies, with Stifel Nicolaus and Wall Street Zen both issuing "buy" ratings, increasing their price targets to $6.50 and $5.75 respectively.
• The company's recent quarterly earnings report showed a net margin of 18.95% and $173.87 million in revenue, surpassing analyst expectations.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.12 and last traded at $5.02, with a volume of 811623 shares changing hands. The stock had previously closed at $4.95.

Wall Street Analyst Weigh In

TTI has been the subject of several research reports. Wall Street Zen raised shares of Tetra Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. D. Boral Capital lifted their target price 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 upped their price objective on Tetra Technologies from $6.00 to $6.50 and gave the company a "buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $5.75.

Tetra Technologies Stock Performance

The stock's fifty day moving average price is $4.21 and its 200-day moving average price is $3.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.61 and a current ratio of 2.47. The company has a market capitalization of $706.38 million, a P/E ratio of 6.16 and a beta of 1.39.

Tetra Technologies (NYSE:TTI - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $173.87 million during the quarter, compared to analysts' expectations of $172.46 million. Tetra Technologies had a net margin of 18.95% and a return on equity of 14.10%. Tetra Technologies has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Tetra Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Tetra Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brightline Capital Management LLC purchased a new stake in Tetra Technologies in the 1st quarter valued at about $8,921,000. Marshall Wace LLP bought a new position in Tetra Technologies during the 2nd quarter worth $3,613,000. CSM Advisors LLC bought a new position in Tetra Technologies during the second quarter valued at about $3,228,000. American Century Companies Inc. increased its position in Tetra Technologies by 49.9% in the 1st quarter. American Century Companies Inc. now owns 2,599,446 shares of the oil and gas company's stock worth $8,734,000 after purchasing an additional 864,793 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in shares of Tetra Technologies in the 1st quarter worth approximately $2,701,000. Institutional investors and hedge funds own 70.19% of the company's stock.

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.