Tetra Technologies Target of Unusually Large Options Trading (NYSE:TTI)

Tetra Technologies, Inc. (NYSE:TTI) saw unusually large options trading on Thursday. Stock traders bought 32,097 call options on the company. This is an increase of approximately 1,396% compared to the typical daily volume of 2,145 call options.

Insider Buying and Selling

In other news, VP Shoemake Alicia R. Boston sold 19,257 shares of Tetra Technologies stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $7.94, for a total value of $152,900.58. Following the completion of the transaction, the vice president owned 132,672 shares in the company, valued at approximately $1,053,415.68. This trade represents a 12.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tetra Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new stake in Tetra Technologies during the 3rd quarter valued at $28,000. Vestmark Advisory Solutions Inc. acquired a new position in shares of Tetra Technologies during the third quarter valued at $58,000. DKM Wealth Management Inc. bought a new stake in shares of Tetra Technologies during the second quarter valued at about $42,000. Osaic Holdings Inc. raised its stake in shares of Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Tetra Technologies in the second quarter worth about $44,000. 70.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TTI has been the topic of several research analyst reports. Northland Securities set a $8.50 price objective on Tetra Technologies in a research note on Thursday, October 30th. Wall Street Zen cut shares of Tetra Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Stifel Nicolaus lifted their price target on shares of Tetra Technologies from $6.50 to $9.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tetra Technologies in a research report on Tuesday, October 14th. Finally, CJS Securities began coverage on shares of Tetra Technologies in a report on Thursday. They issued an “outperform” rating and a $11.50 target price on the stock. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Tetra Technologies has an average rating of “Moderate Buy” and an average target price of $8.50.

Tetra Technologies Stock Down 3.3%

TTI stock opened at $8.80 on Friday. The stock has a market cap of $1.18 billion, a PE ratio of 9.67 and a beta of 1.12. The firm’s 50-day simple moving average is $7.50 and its 200 day simple moving average is $5.24. Tetra Technologies has a fifty-two week low of $2.03 and a fifty-two week high of $9.40. The company has a quick ratio of 1.56, a current ratio of 2.35 and a debt-to-equity ratio of 0.61.

Tetra Technologies (NYSE:TTI) last posted its earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. The firm had revenue of $153.24 million during the quarter, compared to analyst estimates of $144.40 million. As a group, sell-side analysts predict that Tetra Technologies will post 0.15 EPS for the current year.

About Tetra Technologies

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.