Tetra Technologies (NYSE:TTI) Shares Gap Down – Should You Sell?

Tetra Technologies, Inc. (NYSE:TTIGet Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $8.67, but opened at $8.11. Tetra Technologies shares last traded at $8.52, with a volume of 142,971 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on TTI. Northland Securities increased their target price on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Weiss Ratings raised shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.83.

Read Our Latest Stock Report on TTI

Tetra Technologies Trading Down 2.7%

The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1.12 billion, a P/E ratio of 168.69 and a beta of 1.25. The business has a fifty day moving average price of $9.55 and a 200 day moving average price of $9.72.

Tetra Technologies (NYSE:TTIGet Free Report) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. Tetra Technologies had a return on equity of 10.05% and a net margin of 0.97%.The business had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. During the same period last year, the company earned $0.08 earnings per share. On average, analysts expect that Tetra Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tetra Technologies news, VP Kurt Hallead acquired 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the acquisition, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total transaction of $536,000.00. Following the completion of the sale, the chief executive officer directly owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. This represents a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.27% of the company’s stock.

Institutional Investors Weigh In On Tetra Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTI. KBC Group NV acquired a new position in shares of Tetra Technologies during the 1st quarter worth about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Tetra Technologies in the fourth quarter valued at about $33,000. Stone House Investment Management LLC bought a new stake in Tetra Technologies during the fourth quarter worth about $39,000. Rockefeller Capital Management L.P. bought a new stake in Tetra Technologies during the fourth quarter worth about $45,000. Finally, Generali Investments Management Co LLC acquired a new position in Tetra Technologies during the fourth quarter valued at approximately $54,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

About Tetra Technologies

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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.

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