Tetra Technologies (NYSE:TTI) Hits New 52-Week High - Still a Buy?

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 on Wednesday . The company traded as high as $5.12 and last traded at $5.02, with a volume of 811623 shares. The stock had previously closed at $4.95.

Analysts Set New Price Targets

A number of research firms have recently commented on TTI. Wall Street Zen upgraded shares of Tetra Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. D. Boral Capital increased their price target on shares of Tetra Technologies from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus increased their price target on shares of Tetra Technologies from $6.00 to $6.50 and gave the company a "buy" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $5.75.

Tetra Technologies Stock Up 0.5%

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 firm has a market capitalization of $705.72 million, a P/E ratio of 6.16 and a beta of 1.39. The company's 50-day simple moving average is $4.17 and its two-hundred day simple moving average is $3.44.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $173.87 million for the quarter, compared to the consensus estimate 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 expect that Tetra Technologies, Inc. will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Tetra Technologies

Several institutional investors have recently bought and sold shares of TTI. Osaic Holdings Inc. grew its stake in Tetra Technologies by 647.1% in the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 11,000 shares during the last quarter. American Trust purchased a new stake in Tetra Technologies during the 2nd quarter worth approximately $49,000. Squarepoint Ops LLC lifted its stake in Tetra Technologies by 114.0% during the 2nd quarter. Squarepoint Ops LLC now owns 543,448 shares of the oil and gas company's stock valued at $1,826,000 after acquiring an additional 289,456 shares during the period. Tower Research Capital LLC TRC lifted its stake in Tetra Technologies by 235.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 10,204 shares during the period. Finally, Man Group plc acquired a new stake in Tetra Technologies during the 2nd quarter valued at approximately $68,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

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.