Tetra Technologies (NYSE:TTI) Shares Gap Up - Here's What Happened

Key Points

• Tetra Technologies' stock price opened at $4.09 after closing at $3.82, indicating a gap up in trading.
• Analysts have mixed opinions, with Wall Street Zen downgrading Tetra from "buy" to "hold," while D. Boral Capital maintained a "buy" with a revised target price of $4.00.
• Institutional investors hold 70.19% of Tetra Technologies' stock, with notable increases in holdings from firms like American Century Companies Inc. and Stifel Financial Corp.

Shares of Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $3.82, but opened at $4.09. Tetra Technologies shares last traded at $4.11, with a volume of 1,412,948 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TTI. Stifel Nicolaus raised their price objective on shares of Tetra Technologies from $6.00 to $6.50 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen lowered shares of Tetra Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, D. Boral Capital raised their price objective on shares of Tetra Technologies from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Thursday.

Tetra Technologies Trading Down 5.6%

The company's 50 day moving average price is $3.39 and its 200 day moving average price is $3.41. 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 cap of $515.79 million, a PE ratio of 4.50 and a beta of 1.33.

Tetra Technologies (NYSE:TTI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $173.87 million for 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%. As a group, analysts forecast that Tetra Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of Tetra Technologies

Several hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 valued at $257,000 after acquiring an additional 3,124 shares in the last quarter. Diversified Trust Co raised its holdings in Tetra Technologies by 10.3% during the first quarter. Diversified Trust Co now owns 43,565 shares of the oil and gas company's stock worth $146,000 after purchasing an additional 4,058 shares in the last quarter. Byrne Asset Management LLC raised its holdings in Tetra Technologies by 40.3% during the second quarter. Byrne Asset Management LLC now owns 21,426 shares of the oil and gas company's stock worth $72,000 after purchasing an additional 6,149 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Tetra Technologies by 6.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 142,394 shares of the oil and gas company's stock worth $510,000 after purchasing an additional 8,323 shares in the last quarter. Finally, State of Wyoming raised its holdings in Tetra Technologies by 33.9% during the first quarter. State of Wyoming now owns 34,502 shares of the oil and gas company's stock worth $116,000 after purchasing an additional 8,730 shares in the last quarter. Institutional investors and hedge funds own 70.19% of the company's stock.

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.