Tetra Technologies (NYSE:TTI) Stock Price Down 6.6% – Time to Sell?

Tetra Technologies, Inc. (NYSE:TTI)’s share price was down 6.6% on Tuesday. The stock traded as low as $5.78 and last traded at $5.7050. 1,094,974 shares changed hands during trading, a decline of 41% from the average daily volume of 1,842,747 shares. The stock had previously closed at $6.11.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Clear Str upgraded shares of Tetra Technologies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Stifel Nicolaus dropped their price objective on Tetra Technologies from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Finally, Northland Securities set a $10.00 price objective on Tetra Technologies in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Tetra Technologies currently has a consensus rating of “Buy” and a consensus target price of $11.17.

Tetra Technologies Trading Down 5.5%

The business has a fifty day moving average price of $6.81 and a 200-day moving average price of $8.54. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. The company has a market cap of $792.17 million, a P/E ratio of 28.30 and a beta of 1.26.

Tetra Technologies (NYSE:TTI) last announced its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $185.66 million for the quarter, compared to analyst estimates of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%. During the same quarter last year, the company earned $0.08 earnings per share. On average, analysts forecast that Tetra Technologies, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Tetra Technologies

In related news, Director Angela John purchased 10,000 shares of Tetra Technologies stock in a transaction that occurred on Wednesday, September 2nd. The shares were acquired at an average price of $6.50 per share, with a total value of $65,000.00. Following the completion of the transaction, the director directly owned 97,434 shares of the company’s stock, valued at $633,321. This represents a 11.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.27% of the company’s stock.

Institutional Trading of Tetra Technologies

A number of institutional investors have recently modified their holdings of TTI. Baird Financial Group Inc. bought a new position in Tetra Technologies during the second quarter worth about $280,000. Corient Private Wealth LP purchased a new position in shares of Tetra Technologies in the second quarter worth about $114,000. Amundi raised its position in shares of Tetra Technologies by 249.5% in the second quarter. Amundi now owns 58,017 shares of the oil and gas company’s stock valued at $657,000 after purchasing an additional 41,419 shares during the period. Benjamin Edwards Inc. raised its position in shares of Tetra Technologies by 15.4% in the second quarter. Benjamin Edwards Inc. now owns 17,357 shares of the oil and gas company’s stock valued at $197,000 after purchasing an additional 2,318 shares during the period. Finally, Penn Capital Management Company LLC lifted its stake in shares of Tetra Technologies by 62.4% during the 2nd quarter. Penn Capital Management Company LLC now owns 180,867 shares of the oil and gas company’s stock valued at $2,049,000 after buying an additional 69,500 shares in the last quarter. 70.19% of the stock is currently owned by institutional investors.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is an energy services and solutions company that provides specialized products and services to the oil and gas industry, with additional activities related to energy transition. The company serves customers involved in drilling, well completion, production and offshore operations.

Tetra’s Completion Fluids & Products segment supplies clear brine fluids, completion-fluid additives and related products used to control pressure and protect reservoirs during well-completion and workover activities.