Short Interest in Tetra Technologies, Inc. (NYSE:TTI) Decreases By 15.6%

Tetra Technologies, Inc. (NYSE:TTI) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 7,508,844 shares, a decrease of 15.6% from the February 26th total of 8,892,691 shares. Based on an average daily volume of 1,665,352 shares, the short-interest ratio is presently 4.5 days. Currently, 5.9% of the shares of the company are sold short.

Analyst Ratings Changes

TTI has been the topic of several research reports. CJS Securities began coverage on Tetra Technologies in a research note on Thursday, December 11th. They issued an “outperform” rating and a $11.50 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Northland Securities boosted their price objective on Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research note on Wednesday, December 31st. Stifel Nicolaus upped their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Clear Str lowered shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Tetra Technologies Trading Up 1.6%

Shares of TTI stock opened at $8.53 on Wednesday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 426.25 and a beta of 1.20. The company’s fifty day simple moving average is $9.94 and its two-hundred day simple moving average is $8.59. Tetra Technologies has a 1 year low of $2.03 and a 1 year high of $12.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.28.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%.The company had revenue of $146.68 million during the quarter, compared to the consensus estimate of $140.98 million. As a group, analysts anticipate that Tetra Technologies will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TTI. Rubric Capital Management LP bought a new stake in shares of Tetra Technologies during the third quarter valued at about $26,046,000. Price T Rowe Associates Inc. MD grew its stake in Tetra Technologies by 2,392.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,072,139 shares of the oil and gas company’s stock valued at $28,787,000 after acquiring an additional 2,948,885 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in Tetra Technologies during the 4th quarter worth approximately $27,094,000. Vaughan Nelson Investment Management L.P. bought a new stake in Tetra Technologies during the 4th quarter worth approximately $25,359,000. Finally, Wellington Management Group LLP purchased a new stake in Tetra Technologies in the 4th quarter worth approximately $15,773,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

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.