Tetra Technologies (NYSE:TTI) Stock Price Down 6.5% Following Insider Selling

Shares of Tetra Technologies, Inc. (NYSE:TTI) were down 6.5% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $7.69 and last traded at $7.7020. Approximately 916,878 shares traded hands during trading, a decline of 47% from the average daily volume of 1,724,058 shares. The stock had previously closed at $8.24.

Specifically, VP Shoemake Alicia R. Boston sold 19,257 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $7.94, for a total transaction of $152,900.58. Following the sale, the vice president directly owned 132,672 shares in the company, valued at $1,053,415.68. This trade represents a 12.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

TTI has been the subject of a number of analyst reports. Northland Securities set a $8.50 price target on Tetra Technologies in a report on Thursday, October 30th. Wall Street Zen cut Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Stifel Nicolaus upped their target price on Tetra Technologies from $6.50 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a research report on Tuesday, October 14th. Finally, D. Boral Capital boosted their price target on shares of Tetra Technologies from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Tetra Technologies Stock Down 6.4%

The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.44 and a beta of 1.36. The company has a quick ratio of 1.61, a current ratio of 2.35 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average is $6.22 and its two-hundred day moving average is $4.44.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $153.24 million for the quarter, compared to analysts’ expectations of $144.40 million. Tetra Technologies had a return on equity of 13.07% and a net margin of 19.75%. Tetra Technologies has set its FY 2025 guidance at EPS. Equities analysts anticipate that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Tetra Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new position in shares of Tetra Technologies during the 1st quarter worth $61,000. Royce & Associates LP acquired a new stake in Tetra Technologies during the first quarter worth about $2,701,000. Everett Harris & Co. CA increased its position in Tetra Technologies by 37.8% during the first quarter. Everett Harris & Co. CA now owns 657,385 shares of the oil and gas company’s stock worth $2,209,000 after purchasing an additional 180,312 shares during the last quarter. Nuveen LLC purchased a new position in Tetra Technologies during the first quarter worth about $1,107,000. Finally, Russell Investments Group Ltd. boosted its holdings in Tetra Technologies by 7.2% in the 1st quarter. Russell Investments Group Ltd. now owns 923,424 shares of the oil and gas company’s stock valued at $3,103,000 after purchasing an additional 62,396 shares during the last quarter. Institutional investors and hedge funds 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.