TETRA Technologies (NYSE:TTI) Shares Gap Up to $4.00

TETRA Technologies, Inc. (NYSE:TTIGet Rating)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.00, but opened at $4.17. TETRA Technologies shares last traded at $3.99, with a volume of 11,568 shares traded.

Analyst Upgrades and Downgrades

TTI has been the topic of several recent research reports. Evercore ISI lifted their price objective on TETRA Technologies to $6.00 in a report on Monday, August 15th. Johnson Rice raised TETRA Technologies from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Friday, June 24th.

TETRA Technologies Stock Down 1.3 %

The business has a fifty day moving average of $4.01 and a 200 day moving average of $4.13. The firm has a market cap of $495.06 million, a P/E ratio of 48.26 and a beta of 2.69. The company has a quick ratio of 1.47, a current ratio of 2.04 and a debt-to-equity ratio of 1.45.

TETRA Technologies (NYSE:TTIGet Rating) last posted its quarterly earnings data on Monday, August 1st. The oil and gas company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. TETRA Technologies had a return on equity of 14.72% and a net margin of 2.26%. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, equities research analysts predict that TETRA Technologies, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Verition Fund Management LLC acquired a new position in TETRA Technologies during the second quarter valued at approximately $43,000. Legal & General Group Plc raised its stake in TETRA Technologies by 5.7% in the second quarter. Legal & General Group Plc now owns 1,923,164 shares of the oil and gas company’s stock valued at $7,808,000 after buying an additional 104,513 shares during the period. Goldman Sachs Group Inc. raised its stake in TETRA Technologies by 16.2% in the second quarter. Goldman Sachs Group Inc. now owns 873,510 shares of the oil and gas company’s stock valued at $3,546,000 after buying an additional 121,744 shares during the period. Occudo Quantitative Strategies LP raised its stake in TETRA Technologies by 317.8% in the second quarter. Occudo Quantitative Strategies LP now owns 121,883 shares of the oil and gas company’s stock valued at $495,000 after buying an additional 92,712 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in TETRA Technologies by 728.9% in the second quarter. Cubist Systematic Strategies LLC now owns 276,684 shares of the oil and gas company’s stock valued at $1,123,000 after buying an additional 243,303 shares during the period. 58.59% of the stock is owned by institutional investors and hedge funds.

About TETRA Technologies

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TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. It operates through Completion Fluids & Products Division and Water & Flowback Services segments. 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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