Tetra Technologies (NYSE:TTI) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.56 and traded as high as $8.75. Tetra Technologies shares last traded at $8.3850, with a volume of 1,559,368 shares.

Analyst Ratings Changes

A number of brokerages have commented on TTI. CJS Securities assumed coverage on shares of Tetra Technologies in a research report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price objective on the stock. Northland Securities lifted their price objective on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 31st. Stifel Nicolaus boosted their target price on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Finally, Clear Str cut Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Price Performance

The company has a market capitalization of $1.13 billion, a PE ratio of 419.25 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.28. The company’s 50 day simple moving average is $9.99 and its 200 day simple moving average is $8.56.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%.The company had revenue of $146.68 million for the quarter, compared to analysts’ expectations of $140.98 million. As a group, sell-side analysts predict that Tetra Technologies, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Tetra Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in Tetra Technologies in the fourth quarter valued at $33,000. Stone House Investment Management LLC purchased a new position in shares of Tetra Technologies during the fourth quarter worth about $39,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Tetra Technologies during the fourth quarter worth about $45,000. State of Alaska Department of Revenue acquired a new stake in shares of Tetra Technologies during the third quarter worth about $28,000. Finally, Generali Investments Management Co LLC purchased a new stake in shares of Tetra Technologies in the 4th quarter valued at about $54,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

About Tetra Technologies

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.