Tetra Technologies (NYSE:TTI) Trading Down 4.9% - Here's What Happened

Key Points

• Tetra Technologies stock experienced a decline of 4.9%, closing at $5.57 with significantly reduced trading volume of 208,575 shares compared to its average of 1,462,175 shares.
• Wall Street analysts have a predominantly positive outlook on Tetra Technologies, with an average rating of "Buy" and a consensus price target of $6.17.
• Institutional investors have increased their stake in Tetra Technologies significantly, with Osaic Holdings raising its position by 647.1% during the second quarter.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report)'s share price traded down 4.9% during trading on Thursday . The company traded as low as $5.65 and last traded at $5.57. 208,575 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,462,175 shares. The stock had previously closed at $5.85.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Tetra Technologies from $6.00 to $6.50 and gave the stock 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 stock an "outperform" rating in a research note on Friday, September 26th. Wall Street Zen raised Tetra Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, D. Boral Capital lifted their price objective on Tetra Technologies from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $6.17.

Tetra Technologies Stock Performance

The company has a quick ratio of 1.61, a current ratio of 2.47 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $4.58 and a 200-day simple moving average of $3.58. The stock has a market capitalization of $745.70 million, a price-to-earnings ratio of 6.53 and a beta of 1.32.

Tetra Technologies (NYSE:TTI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Tetra Technologies had a return on equity of 14.10% and a net margin of 18.95%.The firm had revenue of $173.87 million for the quarter, compared to analyst estimates of $172.46 million. Tetra Technologies has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Tetra Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Tetra Technologies

A number of institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its position in shares of 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 worth $43,000 after purchasing an additional 11,000 shares during the period. American Trust acquired a new position in shares of Tetra Technologies during the second quarter worth approximately $49,000. Squarepoint Ops LLC raised its position in shares of Tetra Technologies by 114.0% during the second quarter. Squarepoint Ops LLC now owns 543,448 shares of the oil and gas company's stock worth $1,826,000 after purchasing an additional 289,456 shares during the period. Tower Research Capital LLC TRC raised its position in shares of 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 worth $49,000 after purchasing an additional 10,204 shares during the period. Finally, Man Group plc acquired a new position in shares of Tetra Technologies during the second quarter worth approximately $68,000. 70.19% of the stock is owned by institutional investors and hedge funds.

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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