Short Interest in Tetra Technologies, Inc. (NYSE:TTI) Grows By 24.5%

by · The Markets Daily

Tetra Technologies, Inc. (NYSE:TTIGet Free Report) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 9,664,232 shares, a growth of 24.5% from the December 15th total of 7,760,002 shares. Approximately 7.7% of the shares of the stock are sold short. Based on an average daily volume of 1,877,577 shares, the short-interest ratio is currently 5.1 days. Based on an average daily volume of 1,877,577 shares, the short-interest ratio is currently 5.1 days. Approximately 7.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. 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 report on Wednesday, December 31st. Stifel Nicolaus lifted their target price on Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, January 12th. CJS Securities started coverage on Tetra Technologies in a report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Finally, Wall Street Zen downgraded shares of Tetra Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Tetra Technologies currently has an average rating of “Moderate Buy” and an average price target of $10.25.

View Our Latest Stock Analysis on Tetra Technologies

Insider Buying and Selling at Tetra Technologies

In related news, VP Shoemake Alicia R. Boston sold 19,257 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $7.94, for a total value of $152,900.58. Following the completion of the transaction, the vice president owned 132,672 shares of the company’s stock, valued at approximately $1,053,415.68. This represents a 12.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.71% of the company’s stock.

Institutional Trading of Tetra Technologies

Institutional investors have recently bought and sold shares of the stock. Sei Investments Co. raised its stake in shares of Tetra Technologies by 2.5% in the third quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company’s stock valued at $421,000 after acquiring an additional 1,754 shares during the period. Diversified Trust Co. grew its holdings in Tetra Technologies by 5.6% during the 4th quarter. Diversified Trust Co. now owns 45,436 shares of the oil and gas company’s stock valued at $426,000 after purchasing an additional 2,396 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Tetra Technologies by 11.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,977 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 3,281 shares during the period. JPMorgan Chase & Co. lifted its stake in Tetra Technologies by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock worth $1,309,000 after purchasing an additional 3,547 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Tetra Technologies by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 48,840 shares of the oil and gas company’s stock worth $164,000 after purchasing an additional 3,551 shares during the last quarter. 70.19% of the stock is currently owned by institutional investors.

Tetra Technologies Price Performance

Tetra Technologies stock traded down $0.04 during mid-day trading on Monday, reaching $11.58. 2,300,969 shares of the company’s stock traded hands, compared to its average volume of 1,845,408. Tetra Technologies has a 12-month low of $2.03 and a 12-month high of $11.88. The company has a quick ratio of 1.56, a current ratio of 2.35 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $8.93 and a two-hundred day moving average of $6.46. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 12.73 and a beta of 1.11.

Tetra Technologies (NYSE:TTIGet Free Report) last posted its earnings results on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. The firm had revenue of $153.24 million for the quarter, compared to the consensus estimate of $144.40 million. Equities analysts forecast that Tetra Technologies will post 0.15 earnings per share for the current year.

Tetra Technologies Company Profile

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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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