Shares of Tetra Technologies, Inc. (NYSE:TTI) have received an average rating of “Buy” from the sixteen research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.34.
A number of equities analysts recently commented on TTI shares. Scotiabank set a $4.00 target price on Tetra Technologies and gave the company a “buy” rating in a report on Tuesday, August 22nd. Morgan Stanley lowered their target price on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, June 21st. Zacks Investment Research upgraded Tetra Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Royal Bank Of Canada set a $5.00 target price on Tetra Technologies and gave the company a “hold” rating in a report on Friday, June 16th. Finally, ValuEngine cut Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st.
Several institutional investors and hedge funds have recently made changes to their positions in TTI. Municipal Employees Retirement System of Michigan boosted its stake in shares of Tetra Technologies by 23.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 26,270 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 5,030 shares during the period. Mason Street Advisors LLC boosted its stake in shares of Tetra Technologies by 7.8% in the 1st quarter. Mason Street Advisors LLC now owns 27,039 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,961 shares during the period. Hartford Investment Management Co. purchased a new position in shares of Tetra Technologies in the 2nd quarter valued at about $118,000. Karp Capital Management Corp purchased a new position in shares of Tetra Technologies in the 1st quarter valued at about $121,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Tetra Technologies in the 1st quarter valued at about $128,000. Institutional investors and hedge funds own 91.02% of the company’s stock.
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Tetra Technologies (TTI) traded up 2.38% during mid-day trading on Wednesday, hitting $2.15. The company had a trading volume of 1,331,756 shares. The company has a 50-day moving average price of $2.34 and a 200 day moving average price of $3.19. Tetra Technologies has a 52-week low of $1.85 and a 52-week high of $6.45. The company’s market capitalization is $249.18 million.
Tetra Technologies (NYSE:TTI) last announced its earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.03. Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The firm had revenue of $208.37 million for the quarter, compared to analysts’ expectations of $204.19 million. During the same quarter last year, the business earned ($0.15) earnings per share. The business’s revenue was up 18.6% compared to the same quarter last year. On average, analysts forecast that Tetra Technologies will post ($0.18) EPS for the current fiscal year.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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