Tetra Technologies (NYSE:TTI) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Tetra Technologies, Inc. (NYSE:TTI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.79 and traded as high as $10.35. Tetra Technologies shares last traded at $10.2020, with a volume of 1,599,454 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Tetra Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.

Tetra Technologies Stock Up 2.2%

The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 204.08 and a beta of 1.22. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $9.99 and a 200-day moving average price of $9.79.

Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. As a group, sell-side analysts forecast that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other Tetra Technologies news, VP Kurt Hallead purchased 22,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the acquisition, the vice president directly owned 170,764 shares of the company’s stock, valued at $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 6.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tetra Technologies

Hedge funds have recently modified their holdings of the stock. KBC Group NV acquired a new stake in shares of Tetra Technologies in the first quarter worth approximately $27,000. Aster Capital Management DIFC Ltd acquired a new position in Tetra Technologies during the fourth quarter worth approximately $33,000. Stone House Investment Management LLC acquired a new position in Tetra Technologies during the fourth quarter worth approximately $39,000. Osaic Holdings Inc. raised its stake in 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 worth $43,000 after purchasing an additional 11,000 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in Tetra Technologies during the fourth quarter worth approximately $45,000. 70.19% of the stock is owned by institutional investors and hedge funds.

Tetra Technologies Company Profile

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.