Tetra Technologies (NYSE:TTI) Trading 9.3% Higher - Still a Buy?

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report)'s stock price rose 9.3% during mid-day trading on Tuesday . The stock traded as high as $3.86 and last traded at $3.88. Approximately 269,951 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,229,293 shares. The stock had previously closed at $3.55.

Analyst Ratings Changes

A number of research firms recently commented on TTI. Stifel Nicolaus decreased their target price on Tetra Technologies from $7.00 to $6.50 and set a "buy" rating for the company in a report on Tuesday, April 15th. Wall Street Zen downgraded shares of Tetra Technologies from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, D. Boral Capital reduced their target price on shares of Tetra Technologies from $5.50 to $4.00 and set a "buy" rating for the company in a report on Thursday, May 1st.

Tetra Technologies Stock Performance

The company has a market capitalization of $512.98 million, a PE ratio of 4.59 and a beta of 1.35. The firm has a 50-day moving average of $2.79 and a two-hundred day moving average of $3.46. 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 posted its earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. Tetra Technologies had a net margin of 18.41% and a return on equity of 14.49%. The firm had revenue of $157.14 million during the quarter, compared to analyst estimates of $160.52 million. Research analysts anticipate that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Tetra Technologies

Several hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in Tetra Technologies by 4.3% in the 1st quarter. Rhumbline Advisers now owns 216,479 shares of the oil and gas company's stock worth $727,000 after purchasing an additional 8,857 shares during the period. Jane Street Group LLC increased its position in shares of Tetra Technologies by 389.7% in the first quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company's stock valued at $756,000 after buying an additional 302,793 shares in the last quarter. Palo Duro Investment Partners LP purchased a new stake in shares of Tetra Technologies in the first quarter valued at approximately $200,000. Needham Investment Management LLC acquired a new position in shares of Tetra Technologies during the 1st quarter worth approximately $1,562,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Tetra Technologies by 125.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company's stock valued at $544,000 after buying an additional 90,001 shares in the last quarter. 70.19% of the stock is owned by hedge funds and other 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.