TETRA Technologies (NYSE:TTI) Sees Large Volume Increase - Here's What Happened

TETRA Technologies, Inc. (NYSE:TTI - Get Free Report) shares saw an uptick in trading volume on Tuesday . 1,657,002 shares traded hands during mid-day trading, an increase of 90% from the previous session's volume of 872,191 shares.The stock last traded at $4.40 and had previously closed at $4.12.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TTI shares. StockNews.com raised shares of TETRA Technologies from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. EF Hutton Acquisition Co. I raised shares of TETRA Technologies to a "strong-buy" rating in a research report on Monday, October 21st. Finally, D. Boral Capital restated a "buy" rating and issued a $5.50 price target on shares of TETRA Technologies in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, TETRA Technologies has a consensus rating of "Buy" and an average price target of $6.50.

TETRA Technologies Trading Up 5.6 %

The firm's fifty day moving average is $3.79 and its two-hundred day moving average is $3.44. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. The firm has a market capitalization of $655.75 million, a PE ratio of 248.87 and a beta of 2.06.

TETRA Technologies (NYSE:TTI - Get Free Report) 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 net margin of 0.27% and a return on equity of 14.53%. The firm had revenue of $141.70 million during the quarter, compared to analyst estimates of $156.43 million. During the same quarter last year, the business earned $0.07 earnings per share. The company's quarterly revenue was down 6.5% on a year-over-year basis. On average, equities analysts predict that TETRA Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in TETRA Technologies by 233.2% during the third quarter. JPMorgan Chase & Co. now owns 510,705 shares of the oil and gas company's stock valued at $1,583,000 after acquiring an additional 357,455 shares in the last quarter. Barclays PLC grew its position in shares of TETRA Technologies by 369.6% during the 3rd quarter. Barclays PLC now owns 209,873 shares of the oil and gas company's stock valued at $650,000 after purchasing an additional 165,184 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of TETRA Technologies by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,728,035 shares of the oil and gas company's stock worth $8,458,000 after purchasing an additional 17,802 shares during the period. XTX Topco Ltd purchased a new stake in shares of TETRA Technologies in the third quarter worth $405,000. Finally, Stifel Financial Corp boosted its stake in TETRA Technologies by 703.0% during the third quarter. Stifel Financial Corp now owns 216,439 shares of the oil and gas company's stock valued at $671,000 after buying an additional 189,484 shares during the period. Institutional investors own 70.19% of the company's stock.

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.

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