Tetra Technologies (NYSE:TTI) Shares Gap Down – What’s Next?

Tetra Technologies, Inc. (NYSE:TTI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $10.89, but opened at $9.75. Tetra Technologies shares last traded at $10.25, with a volume of 2,092,224 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.25.

Tetra Technologies Price Performance

The firm has a market capitalization of $1.36 billion, a PE ratio of 200.24 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20. The firm has a 50-day simple moving average of $9.38 and a 200-day simple moving average of $9.50.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The business had revenue of $156.25 million during the quarter, compared to the consensus estimate of $151.20 million. As a group, equities analysts forecast that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Institutional Trading of Tetra Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in Tetra Technologies by 82.7% in the first quarter. Bank of America Corp DE now owns 1,131,254 shares of the oil and gas company’s stock worth $9,638,000 after acquiring an additional 511,979 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Tetra Technologies during the 1st quarter valued at $2,874,000. California State Teachers Retirement System grew its position in shares of Tetra Technologies by 36.4% during the 1st quarter. California State Teachers Retirement System now owns 164,954 shares of the oil and gas company’s stock valued at $1,405,000 after acquiring an additional 44,059 shares during the period. Royal Bank of Canada increased its stake in shares of Tetra Technologies by 133.1% in the 1st quarter. Royal Bank of Canada now owns 9,164 shares of the oil and gas company’s stock worth $78,000 after purchasing an additional 5,232 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Tetra Technologies by 5.0% in the 1st quarter. Empowered Funds LLC now owns 642,630 shares of the oil and gas company’s stock worth $5,475,000 after purchasing an additional 30,656 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 (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.