TETRA Technologies (NYSE:TTI) Shares Gap Up – Here’s Why

TETRA Technologies, Inc. (NYSE:TTI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $3.67, but opened at $3.78. TETRA Technologies shares last traded at $3.84, with a volume of 154,632 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. EF Hutton Acquisition Co. I raised TETRA Technologies to a “strong-buy” rating in a research note on Monday, October 21st. Finally, D. Boral Capital reissued a “buy” rating and issued a $5.50 price target on shares of TETRA Technologies in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $6.50.

TETRA Technologies Stock Performance

The company has a market capitalization of $453.43 million, a price-to-earnings ratio of 172.09 and a beta of 2.10. The company has a 50 day moving average price of $3.60 and a 200 day moving average price of $3.39. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.33.

TETRA Technologies (NYSE:TTI) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The company had revenue of $141.70 million for the quarter, compared to analyst estimates of $156.43 million. During the same period in the prior year, the firm earned $0.07 earnings per share. TETRA Technologies’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities research analysts predict that TETRA Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Balboa Wealth Partners bought a new stake in shares of TETRA Technologies in the 3rd quarter worth $33,000. Townsquare Capital LLC purchased a new position in TETRA Technologies during the third quarter worth about $36,000. Point72 DIFC Ltd grew its position in TETRA Technologies by 82.0% in the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 5,966 shares in the last quarter. nVerses Capital LLC purchased a new stake in TETRA Technologies in the 2nd quarter valued at about $53,000. Finally, US Bancorp DE lifted its position in shares of TETRA Technologies by 2,038.0% during the 3rd quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock worth $55,000 after buying an additional 16,875 shares in the last quarter. 70.19% of the stock is owned by 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.