Tetra Technologies (NYSE:TTI) Reaches New 12-Month High - Still a Buy?

Key Points

• Tetra Technologies (NYSE:TTI) recently reached a new 52-week high, trading at $5.52, with a volume of over 1.5 million shares.
• Several analysts have upgraded their ratings on Tetra Technologies, with Stifel Nicolaus increasing the price target to $6.50 and achieving an average rating of "Buy" for the stock.
• The company reported earnings of $0.09 per share last quarter, meeting analysts' expectations, and anticipates a projected EPS of 0.15 for the current fiscal year.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $5.52 and last traded at $5.46, with a volume of 1526438 shares trading hands. The stock had previously closed at $5.30.

Wall Street Analyst Weigh In

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

Tetra Technologies Trading Up 2.9%

The company has a market capitalization of $727.04 million, a PE ratio of 6.34 and a beta of 1.39. The company has a current ratio of 2.47, a quick ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $4.25 and a two-hundred day moving average of $3.47.

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 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. The company had revenue of $173.87 million for the quarter, compared to analysts' expectations 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. As a group, sell-side analysts anticipate that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tetra Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tetra Technologies by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,839 shares of the oil and gas company's stock worth $257,000 after acquiring an additional 3,124 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Tetra Technologies by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company's stock worth $1,309,000 after acquiring an additional 3,547 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Tetra Technologies by 7.8% in the second 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 last quarter. Diversified Trust Co grew its stake in shares of Tetra Technologies by 10.3% in the first 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 last quarter. Finally, Byrne Asset Management LLC grew its stake in shares of Tetra Technologies by 40.3% in the second 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 last quarter. 70.19% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.