TETRA Technologies, Inc. (NYSE:TTI) Sees Significant Decline in Short Interest

TETRA Technologies, Inc. (NYSE:TTI) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 3,220,000 shares, a decline of 24.2% from the February 13th total of 4,250,000 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,040,000 shares, the days-to-cover ratio is currently 3.1 days.

TETRA Technologies Price Performance

Shares of TTI traded down $0.05 during midday trading on Tuesday, hitting $3.35. The company’s stock had a trading volume of 876,781 shares, compared to its average volume of 1,168,520. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. TETRA Technologies has a one year low of $2.68 and a one year high of $5.12. The stock has a market capitalization of $444.05 million, a price-to-earnings ratio of 167.78 and a beta of 2.04. The company’s fifty day simple moving average is $4.12 and its two-hundred day simple moving average is $3.67.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The firm had revenue of $134.50 million during the quarter, compared to analyst estimates of $138.96 million. As a group, equities analysts expect that TETRA Technologies will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TETRA Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pullen Investment Management LLC boosted its holdings in shares of TETRA Technologies by 105.5% in the fourth quarter. Pullen Investment Management LLC now owns 507,650 shares of the oil and gas company’s stock worth $1,817,000 after acquiring an additional 260,611 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of TETRA Technologies by 18.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,515 shares of the oil and gas company’s stock worth $1,044,000 after buying an additional 45,535 shares during the period. Two Sigma Investments LP grew its stake in shares of TETRA Technologies by 51.2% in the fourth quarter. Two Sigma Investments LP now owns 187,072 shares of the oil and gas company’s stock worth $670,000 after purchasing an additional 63,370 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of TETRA Technologies by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 35,357 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 11,634 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of TETRA Technologies by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,839 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 3,124 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Analyst Ratings Changes

Separately, D. Boral Capital reiterated a “buy” rating and issued a $5.50 price objective on shares of TETRA Technologies in a report on Thursday, February 27th.

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.