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

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.44 and traded as high as $3.65. Tetra Technologies shares last traded at $3.64, with a volume of 1,575,896 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. D. Boral Capital decreased their price target on Tetra Technologies from $5.50 to $4.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus cut their price objective on Tetra Technologies from $7.00 to $6.50 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Wall Street Zen cut Tetra Technologies from a "buy" rating to a "hold" rating in a research report on Friday, May 9th.

Tetra Technologies Price Performance

The firm has a market capitalization of $483.71 million, a PE ratio of 4.33 and a beta of 1.37. The stock has a 50-day moving average price of $3.15 and a 200 day moving average price of $3.44. The company has a quick ratio of 1.61, a current ratio of 2.54 and a debt-to-equity ratio of 0.66.

Tetra Technologies (NYSE:TTI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. Tetra Technologies had a return on equity of 14.49% and a net margin of 18.41%. The firm had revenue of $157.14 million during the quarter, compared to analysts' expectations of $160.52 million. Equities analysts forecast that Tetra Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of Tetra Technologies

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tetra Technologies by 4.5% in the 4th 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 buying an additional 3,124 shares in the last quarter. Diversified Trust Co grew its holdings in Tetra Technologies by 10.3% in the 1st quarter. Diversified Trust Co now owns 43,565 shares of the oil and gas company's stock valued at $146,000 after buying an additional 4,058 shares in the last quarter. Byrne Asset Management LLC grew its holdings in Tetra Technologies by 40.3% in the 2nd quarter. Byrne Asset Management LLC now owns 21,426 shares of the oil and gas company's stock valued at $72,000 after buying an additional 6,149 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Tetra Technologies by 6.2% during the 4th 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 during the period. Finally, State of Wyoming grew its holdings in shares of Tetra Technologies by 33.9% during the 1st 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 during the period. 70.19% of the stock is currently 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.

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