TETRA Technologies (NYSE:TTI) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Shares of TETRA Technologies, Inc. (NYSE:TTI - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.41 and traded as high as $3.87. TETRA Technologies shares last traded at $3.86, with a volume of 908,742 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TTI shares. StockNews.com raised 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.

TETRA Technologies Trading Down 1.3 %

The firm has a market cap of $502.20 million, a price-to-earnings ratio of 193.00 and a beta of 2.04. The business has a 50 day moving average of $3.18 and a 200 day moving average of $3.41. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16.

TETRA Technologies (NYSE:TTI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.03. The firm had revenue of $141.70 million during the quarter, compared to the consensus estimate of $156.43 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 earnings per share. On average, research analysts forecast that TETRA Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of TETRA Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of TETRA Technologies by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,609,375 shares of the oil and gas company's stock valued at $33,710,000 after acquiring an additional 89,099 shares during the last quarter. Gendell Jeffrey L lifted its holdings in shares of TETRA Technologies by 5.5% during the first quarter. Gendell Jeffrey L now owns 4,811,224 shares of the oil and gas company's stock valued at $21,314,000 after purchasing an additional 252,632 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in TETRA Technologies by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,129,181 shares of the oil and gas company's stock worth $10,827,000 after purchasing an additional 96,898 shares in the last quarter. Huber Capital Management LLC raised its holdings in TETRA Technologies by 5.1% during the 2nd quarter. Huber Capital Management LLC now owns 1,945,586 shares of the oil and gas company's stock worth $6,732,000 after buying an additional 95,096 shares during the period. Finally, Masters Capital Management LLC lifted its position in shares of TETRA Technologies by 70.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,700,000 shares of the oil and gas company's stock valued at $5,882,000 after acquiring an additional 700,000 shares in the last quarter. 70.19% of the stock is currently owned by institutional investors and hedge funds.

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.