Tetra Technologies (NYSE:TTI) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Tetra Technologies' stock price has crossed above its 200-day moving average of $3.66, reaching a high of $5.64 during trading, signaling a positive trend for the company.
• Multiple brokerages have raised their price targets, with Northland Securities increasing their target from $5.50 to $7.00 and Stifel Nicolaus from $6.00 to $6.50, indicating strong market confidence in Tetra Technologies.
• The company's recent earnings report showed an EPS of $0.09 and revenue of $173.87 million, aligning closely with analysts' expectations, while they forecast an EPS of $0.15 for the current fiscal year.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.66 and traded as high as $5.64. Tetra Technologies shares last traded at $5.60, with a volume of 1,797,067 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on TTI. Wall Street Zen upgraded Tetra Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. D. Boral Capital lifted their price objective on Tetra Technologies from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Northland Securities lifted their price objective on Tetra Technologies from $5.50 to $7.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tetra Technologies in a research note on Saturday, September 27th. Finally, Stifel Nicolaus lifted 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 analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $6.17.

Tetra Technologies Trading Up 0.9%

The firm has a market cap of $746.37 million, a P/E ratio of 6.51 and a beta of 1.32. The stock has a fifty day simple moving average of $4.76 and a 200 day simple moving average of $3.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.61 and a current ratio of 2.47.

Tetra Technologies (NYSE:TTI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. The business 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, research analysts expect that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Tetra Technologies

Hedge funds have recently bought and sold shares of the company. DKM Wealth Management Inc. purchased a new stake in Tetra Technologies during the second quarter valued at $42,000. Osaic Holdings Inc. increased its position in Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 11,000 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in Tetra Technologies during the second quarter valued at $44,000. American Trust purchased a new stake in Tetra Technologies during the second quarter valued at $49,000. Finally, Tower Research Capital LLC TRC increased its position in Tetra Technologies by 235.5% during the second 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 last quarter. Hedge funds and other institutional investors 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.

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